Debanking Christians

JP Morgan Chase Tower, Author Krzykol (CC BY-SA 3.0 Unported)

“I have set the Lord always before me; Because He is at my right hand I shall not be moved” (Ps. 16: 8).

Debanking is the closure by a bank of the accounts of an individual or organization based on the perception that the account holder poses increased legal, regulatory, financial, or reputational risk to the bank [1A].

Examples include the enforcement of anti-corruption and anti-money-laundering laws, and the closure of the bank accounts of so called “politically exposed persons”, i.e. those entrusted with a prominent public function and, therefore, potentially at risk for bribery [1B].

At first, all this seems above board.  However, the process does not require the disclosure of a reason, and does not generally provide for an appeal [1C].  The practice is, for that reason, considered a threat to freedom of speech.  It is now a growing threat to freedom of religion, as well.

JP Morgan Chase

Earlier this year, JP Morgan Chase summarily closed the checking account of the National Committee for Religious Freedom (NCRF), a legal 501(c)(4) non-profit led by former US Ambassador Sam Brownbeck [2A][3].

NCRF exists to defend religious freedom.  Its board members include Michael Farris of the Alliance Defending Freedom, Tony Perkins of the Family Research Council, New York’s Roman Catholic Cardinal Timothy Nolan, Jewish/Muslim/Hindu religious activists, and former members of Congress [4][5].

When pressured, Chase responded that it would consider reopening the account if NCRF first identified donors contributing more than 10% toward its operating budget; identified the political candidates NCRF intends to support; and specified the criteria NCRF uses to decide which candidates to support [2B].  Understandably, NCRF declined.

JP Morgan Chase, also, canceled the Family Council of Arkansas which promotes traditional family values [6A].

Bank of America

“When they closed the account, it meant that people who are dependent on us couldn’t eat.”

-Steve Happ, Indigenous Advance Ministries [7A]

Bank of America has been accused of discrimination for debanking the Christian charity Indigenous Advance Ministries [8][9].  This organization partners with Ugandan ministries to serve orphans and vulnerable children.  It provides mentorships and training to young people, but does not advocate for any political cause.

Wells Fargo

The Ruth Institute, an interfaith coalition which, also, promotes traditional family values, was debanked by Wells Fargo after being inappropriately labeled a “hate group” by the Southern Poverty Law Center (a group whose historic achievements have, it seems, been abandoned in favor of a radical leftist agenda) [6B][10][11][12].

PNC Bank

Similarly, PNC Bank canceled the account of C4i America, a 501(c)3 charity which provides humanitarian aid and emergency relief to the poor of Israel [7B].  The ministry funds after-school programs for needy children, whether Israeli or Arab, as well as supporting soup kitchens and food banks.

The C4i account had never had any issues.  The ministry was simply informed that it no longer fell within the parameter’s of PNC’s banking philosophy.

“A good Christian is bound to relinquish not only goods and children, but life itself, for the glory of his Redeemer:  therefore I am resolved to sacrifice every thing in this transitory world, for the sake of salvation in a world that will last to eternity.”

– John Foxe, Foxe’s Book of Martyrs (1563) [13]

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[1A, 1B, and 1C]  Wikipedia, “De-banking”, https://en.wikipedia.org/wiki/De-banking.

[2A and 2B]  Alliance Defending Freedom, “Debanking:  Cancel Culture’s Newest Threat” by Jay Hobbs, 3/23/23, https://adflegal.org/article/debanking-cancel-cultures-newest-threat.

[3]  National Committee for Religious Freedom (NCRF), https://thencrf.org/about.

[4]  Alliance Defending Freedom, https://adflegal.org/about.

[5]  Family Research Council, https://www.frc.org/mission-statement.

[6A and 6B]  Christian Broadcasting Network (CBN), “‘No Apologies’ from ‘Weaponized’ Banks Canceling Faith Based Groups” by Dale Hurd, 9/13/23, https://www2.cbn.com/news/us/no-apologies-weaponized-banks-canceling-faith-groups.

[7A and 7B]  C4i America – Israel: the Prophetic Connection, “Bank of America closes accounts tied to Christian outreach ministry” by Ian Giatii of Christian Post, October 23, 2023 Edition, p. 5.

[8]  Christian Broadcasting Network (CBN), “Bank of America Accused of Discrimination After ‘Politicized Debanking’ of Christian Charity” by Steve Warren, 8/28/23, https://www2.cbn.com/news/us/bank-america-accused-discrimination-after-politicized-debanking-christian-charity.

[9]  Indigenous Advance Ministries, https://indigenousadvance.org/about-us/.

[10]  Ruth Institute, https://ruthinstitute.org/about.

[11]  LifeSite News, “Banking giant may be linked to cutting off services to Christian, pro-family groups” by Doug Mainwaring, 9/6/17, https://www.lifesitenews.com/news/banking-giant-may-be-linked-to-cutting-off-services-to-christian-pro-family/.

[12]  Christian Broadcasting Network (CBN), “Wealthy ‘Southern Poverty Law Center’ Engulfed in Scandal After Years of Anti-Conservative Agenda” by Dale Hurd, 3/27/19, https://www2.cbn.com/news/us/wealthy-southern-poverty-law-center-engulfed-scandal-after-years-anti-conservative-agenda?_gl=1%2Aanaslf%2A_ga%2ANjE5ODU4MDIzLjE2OTQ3MzQzMzA.%2A_ga_NT1E3BB6GV%2AMTY5NDczNDMzNC4xLjEuMTY5NDczNTgwNi42MC4wLjA.

[13]  C4i America, https://www.c4iamerica.com/.

[14]  Wikipedia, “Foxe’s Book of Martyrs”, https://en.wikipedia.org/wiki/Foxe%27s_Book_of_Martyrs.

Please, pray for the security of Israel, and the safety of the hostages taken by Hamas.

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