Listeners:
Top listeners:
-
play_arrow
Bank of America Account Closures Ignited Conservative Backlash Over “Debanking”
by Emmitt Barry, with reporting from Washington D.C. Bureau Staff
WASHINGTON (Worthy News) – Bank of America’s closure of accounts belonging to a Tennessee church elder and missionary has become a flashpoint in a national fight over alleged “debanking” of Christians and conservatives, the Wall Street Journal (WSJ) reported in an exclusive investigation.
Steve Happ, an elder at the Servants of Christ Church in Memphis, told the Journal he was preparing for a mission trip to Uganda in 2023 when he learned the bank was canceling three accounts linked to his ministry, orphanage support charity, and small business—together holding more than $270,000.
Letters from the bank informed Happ that he was “operating in a business type we have chosen not to service.” When he sought answers at his local branch, Happ said the longtime manager “just quoted that very same line from the letters” and offered no further explanation.
Happ concluded the closures reflected bias against Christian organizations. “That’s when I realized they didn’t want to work with Christian groups,” he said.
Bank of America’s Defense
Bank of America disputed that claim, telling WSJ that Happ’s accounts were closed “solely because they operated a business outside the U.S. and provided debt collection services,” which violated company policy. Spokesman Bill Halldin said the bank “never closes accounts for political reasons and doesn’t have a political litmus test.”
According to the report, the bank said Happ was given 30 days to move his funds and he successfully transferred the money elsewhere.
From Memphis to Washington
The WSJ noted that Happ’s case was amplified by Alliance Defending Freedom (ADF), a conservative Christian legal group that brought his story before Congress. ADF argued that his ordeal fit into a wider pattern of discrimination against conservatives and religious groups in corporate America.
President Donald Trump, who has claimed that JPMorgan Chase and Capital One closed his family’s accounts after the January 6, 2021, riots, embraced the issue. In August, he signed an executive order directing regulators to investigate banks accused of cutting off customers over political or religious beliefs, WSJ reported.
A White House spokesman told the paper the order requires banking decisions to be based on “individualized, objective, and risk-based analyses—not ideology or politics.”
Wider Banking Controversy
The WSJ highlighted how U.S. banks have, in recent years, distanced themselves from certain industries such as coal mining, assault-weapons manufacturing, and private prisons, citing environmental, social, and governance (ESG) concerns. Republicans accuse banks of allowing politics to drive lending and account policies.
House Judiciary Chair Rep. Jim Jordan (R-Ohio) has led hearings into the matter, citing whistleblower testimony that Bank of America voluntarily shared transaction data with the FBI after Jan. 6. The bank told the Journal it had acted lawfully at the request of law enforcement to protect Biden’s inauguration.
Laws and Fallout
According to the WSJ, Happ’s case has already inspired legislation in at least 11 states to penalize banks that close accounts for political or religious reasons, with Tennessee and Idaho enacting such laws.
While Happ said he eventually moved on, the episode left scars: “We were helping orphans eat and employees keep their jobs. Instead, I had to dip into my savings. I just don’t want this to happen to anyone else.”
Financial executives told the WSJ they fear Trump’s crackdown could turn banks into utilities unable to manage risk, warning of “witch trials” over account closures.
For now, the debate over “debanking”—brought to light in the Wall Street Journal report—continues to pit Wall Street’s biggest lenders against conservatives who say banks are shutting them out of the financial system.
Copyright 1999-2025 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest News from Worthy News
Israel is demanding that Hamas hand over the remains of hostages still held in Gaza, as U.S. President Donald Trump vowed that “nobody is getting left behind,” underscoring Washington’s continued commitment to recovering every captive and fallen Israeli taken during the October 7, 2023, terror attacks.
More than 140 people were feared dead Thursday as Mexico struggled to bring aid to those devastated by record-breaking floods amid growing anger over the government’s handling of the crisis.
Christians and human rights activists in Pakistan have sounded the alarm over what they call a new wave of persecution, including church closures, violent evictions, and economic exploitation of Christian families.
U.S. President Donald Trump announced Tuesday that American forces conducted another lethal strike on a suspected drug-trafficking vessel off the coast of Venezuela, killing six people in what the administration calls part of a “noninternational armed conflict” with narco-terrorist networks.
Israeli Prime Minister Benjamin Netanyahu warned that Hamas must surrender its weapons or face dire consequences, saying that if the terror group refuses to disarm, “all hell breaks loose.” His comments came Tuesday in an interview with CBS, amid efforts to implement U.S. President Donald Trump’s ceasefire and reconstruction plan for Gaza.
Belgium’s security forces used tear gas and a water cannon to disperse tens of thousands of protesters who flooded Brussels, the national and European Union capital, to express outrage over Prime Minister Bart De Wever’s proposed austerity measures.
U.S. President Donald J. Trump has posthumously awarded America’s highest civilian honor to Charlie Kirk, the assassinated born-again Christian activist who inspired a generation of young Americans and others worldwide to embrace their faith and conservative values.
WHO WE ARE
The Psalms, hymns, and spiritual songs encapsulate the beauty, wisdom, and eternal truths found in the Bible, creating an immersive experience that resonates with believers and seekers alike.
CONTACT
- +1 908 280-4246
- Essex County, USA
- info@tnjrfm.com