‘We do not discriminate on the basis of political affiliation,’ official says
One of the nation’s largest financial institutions is pledging to promote “fair access” as some large American banking corporations have faced allegations of discriminatory account closures targeting conservative and Christian groups.
Citi announced this week that it will update its corporate policy “to clearly state that we do not discriminate on the basis of political affiliation in the same way we are clear that we do not discriminate on the basis of other traits such as race and religion.”
“Citi has always been fully committed to treating all current and potential clients fairly and we have policies, procedures and controls in place for this express purpose,” Edward Skyler, Head of Enterprise Services & Public Affairs for Citi, said in a statement Tuesday. “At the same time, we appreciate the concerns that are being raised regarding ‘fair access’ to banking services, and we are following regulatory developments, recent Executive Orders and federal legislation that impact this area.'”
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The statement comes after President Donald Trump publicly rebuked the CEOs of Bank of America and JPMorgan Chase for allegedly “debanking” conservatives earlier this year.
After taking “an objective look at our policies and practices,” Skyler said Citi will codify the changes and “conduct trainings to ensure compliance.” The bank announced it “will no longer have a specific policy as it relates to firearms” following the implementation of its U.S. Commercial Firearms Policy in 2018.
While Citi’s policy was aimed at “best sales practices” without addressing firearms manufacturers, Skyler said the policy is no longer effective.
“Many retailers have been following these best practices, and we hope communities and lawmakers will continue to seek out ways to prevent the tragic consequences of gun violence,” he said.
“These changes reinforce our commitment to serve all clients fairly, and we will continue to work with regulators and elected officials on ways to improve transparency and trust in the banking sector,” Skyer concluded.
In April 2024, a coalition of 15 Republican state attorneys general sent a letter to Bank of America asking for a response to allegations that the financial behemoth discriminated against customers based on political and religious viewpoints. The company has denied such allegations.
Speaking remotely at the World Economic Forum’s 2025 Annual Meeting in Davos, Trump told Bank of America CEO Brian Moynihan: “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, they don’t take conservative business.”
“And I don’t know if the regulators mandated that [debanking] because of Biden or what. But you and Jamie [Dimon] and everybody, I hope you’re going to open your banks to conservatives because what you’re doing is wrong,” Trump said.
Sam Brownback, a former U.S. senator, Kansas governor, and ambassador-at-large for international religious freedom during Trump’s first term, has been a prominent critic of debanking.
“Americans should not be denied access to banking services simply because their interests might be unpopular in some social circles. Businesses protected by the Second Amendment should not be punished by Big Banks,” Brownback said in a statement to The Christian Post after Citi’s announcement. “I hope other banks who might be discriminating against law-abiding Americans realize their activities will no longer be tolerated by the government.”
In 2022, the National Committee for Religious Freedom (NCRF), a nonprofit Brownback founded, had its JPMorgan Chase account closed just three weeks after opening. The bank reportedly demanded donor lists and details on supported political candidates, a request Brownback rejected.
After NCRF Executive Director Justin Murff reached out for more information on the move, Brownback said Murff was told the decision was made at the “corporate level.”
“It’s secret, it’s irrevocable, and that’s all the information we got,” added Brownback.
Chase denied closing the account due to political or religious views.
In March, the Trump Organization filed a lawsuit against Capital One for alleged debanking in 2021 after more than a decade of doing business with the bank, claiming it was an “attack on free speech.” Capital One denied that it closes customer accounts for political reasons.
First lady Melania Trump has also alleged that her bank dropped her and refused to allow her son Barron to open an account after they left the White House following Trump’s first term in 2021.
In 2023, Bank of America announced its intention to close accounts associated with a Memphis-based Christian outreach ministry that aims to share the Gospel with indigenous people in Uganda, Indigenous Advance. The only explanation provided was that “upon review of [the] account(s) we have determined you’re operating in a business type we have chosen not to service at Bank of America.”
