Republicans Launch Investigation into Alleged Political 'De-Banking' by Major Banks

Senate and House committees plan hearings to address claims of financial discrimination against conservatives and explore regulatory implications.

Senate Banking Committee, led by Chairman Tim Scott, will hold a hearing on February 5 to investigate allegations of financial institutions 'de-banking' conservative individuals and businesses.
Witnesses for the hearing include Black Rifle Coffee CEO Evan Hafer, Anchorage Digital CEO Nathan McCauley, and legal expert Stephen Gannon.
President Donald Trump recently raised concerns about alleged political bias in banking during a World Economic Forum session, naming Bank of America and JPMorgan Chase CEOs.
House Oversight Committee Chairman James Comer announced plans to investigate whether alleged de-banking practices are tied to ESG policies or potential government influence under the Biden administration.
Banks, including JPMorgan Chase and Bank of America, deny closing accounts for political reasons, citing regulatory compliance and rejecting claims of political discrimination.