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Trump's former lawyer calls for Bank of America investigation amid 'cancel culture' row


Trump's former lawyer calls for Bank of America investigation amid 'cancel culture' row

Donald Trump's former lawyer has urged the US president to launch an investigation into Bank of America, which he claims closed his accounts because of his political views.

John Eastman said he has still not been given an explanation for why his accounts of 40 years were closed by the banking giant, but believes it was an example of "cancel culture brass in the corporate boardroom".

His comments came after Mr Trump accused the bank's CEO of refusing to do business with people because of their Right-wing views.

"I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank, and that included a place called Bank of America," Mr Trump said.

"What you're doing is wrong," he said, in an address at the World Economic Forum in Davos, Switzerland, via a video link. Mr Trump did not cite evidence or specifics of any wrongdoing.

Referencing JPMorgan CEO Jamie Dimon, Mr Trump added: "You and Jamie and everybody, I hope you're gonna open your bank to conservatives."

The two banks have denied ever making banking decisions based on politics.

Welcoming Mr Trump's comments, Mr Eastman said he hopes they are "indicative of the fact that he's going to look into it from the government end", although he said he had not spoken directly to the president.

The former lawyer was told his Bank of America accounts were being shut in September 2023, one month after he was indicted alongside Mr Trump in the criminal Georgia election subversion case.

He told The Telegraph he believes he was de-banked either because the bank "didn't like my political views, or because the federal regulators were harassing them for my communications and my financial transactions because of my political views".

It is an issue Mr Trump discussed on the campaign trail, telling a rally earlier this year he would "place strong protections to stop banks and regulators from trying to de-bank you from your political beliefs".

In her book, Melania Trump, the first lady, claimed her bank account and that of her son Barron were shut down in the wake of the Jan 6 riots. "This decision appeared to be rooted in political discrimination," she wrote.

Some financial institutions have been accused by congressional Republicans and Republican-led states of "woke capitalism" as well as de-banking gun-makers, fossil fuel companies and others aligned with the political right.

Last year, Kansas Attorney General Kris Kobach sent a letter signed by 15 of his peers to Bank of America CEO Brian Moynihan accusing the bank of cancelling the accounts of "multiple religious groups with mainstream views in the last three years".

Bank of America denied the allegations.

"We welcome conservatives," a Bank of America spokesperson Bill Halldin said in an email.

"We are required to follow extensive government rules and regulations that sometimes result in decisions to exit client relationships. We never close accounts for political reasons and don't have a political litmus test."

Responding to Mr Eastham's claims, he said: "We can't comment on individual client accounts. I'd reiterate that we don't take any action based on political views."

JPMorgan, the biggest US lender, also said it has never and would never close an account for political reasons.

"We follow the law and guidance from our regulators and have long said there are problems with the current framework Washington must address," it said.

"We welcome the opportunity to work with the new Administration and Congress on ways to remove regulatory ambiguity while maintaining our country's ability to address financial crime," a JPMorgan spokesperson said.

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