A new report indicates that 70% of U.S. banks allegedly target clients based on their political and religious beliefs.
The report is part of an ongoing investigation by the U.S. House Judiciary Committee’s Select Subcommittee on the Weaponization of the Federal Government. It suggests a troubling trend of financial discrimination linked to directives from the Biden administration.
The Subcommittee, set to hold its tenth hearing on the matter this Wednesday, has been diligently investigating claims that the federal government has been weaponizing its power against American citizens.
Recent hearings have spotlighted instances where federal agencies allegedly outsourced censorship to major corporations, circumventing constitutional safeguards.
Jeremy Tedesco, Senior Counsel at the Alliance Defending Freedom (ADF), highlighted the federal government’s efforts to indirectly enforce censorship through influential companies.
“Attempting an end-run around the Constitution by outsourcing censorship to some of the most powerful corporations the world has ever known,” stated Tedesco during a hearing.
ADF’s annual Viewpoint Diversity Score Business Index, which evaluates companies on their handling of viewpoint-based decisions, flagged numerous financial institutions for maintaining policies that pose potential threats to free speech and religious expression.
The index assessed 75 prominent tech and financial service providers, revealing that nearly half of the largest finance companies enforce “problematic terms of service.”
Moreover, several of the top ten commercial banks were criticized for their “reputational risk” and “hate speech policies,” which could unfairly target conservative and religious groups.
The report also criticized several companies for enforcing Diversity, Equity, and Inclusion (DEI) policies and promoting concepts like Critical Race Theory, which ADF argues could discriminate against faith-based groups and charities.
Interestingly, the report noted improvements in some companies, with firms like Fidelity National Information Services and Citigroup reversing previous policies that the ADF deemed politically motivated.
The Select Subcommittee on the Weaponization of the Federal Government has also disclosed findings concerning the U.S. Treasury Department’s Financial Crimes Enforcement Network. These reports accuse the agency of “colluding with” major U.S. financial institutions to surveil customers’ ideological beliefs, relying on a “discredited and morally bankrupt Southern Poverty Law Center list.”
This list controversially categorizes Christian groups such as ADF, the Family Research Council, Liberty Counsel, Pacific Justice Institute, Ruth Institute, and others as part of “1,225 hate and antigovernment extremist groups.”
The findings have fueled concerns over the erosion of civil liberties under the current administration.
During the Biden administration, the Department of Homeland Security unveiled a proposal to establish the inaugural “disinformation board,” which aimed to censor Americans.
The planned director was noted for singing about political adversaries “laundering disinformation” to the tune of a Disney-themed Mary Poppins song, as reported by The Center Square.
However, the plan to create this bureau was later abandoned by DHS.
As the Subcommittee prepares for its upcoming hearing, which will explore the alleged use of legal tactics to enforce these controversial policies, the spotlight on these issues grows ever more intense.
This story is still developing…