Bank Executives Admit: Obama and Biden Pressured Us to "Debank" the Democrat Party's Political Enemies

They're speaking anonymously for fear of reprisal.

The banks faced reprisals under Obama and Biden: Do what we demand, punish our enemies for us, or we'll sic bank regulators on you and make your life a nightmare.

Obama and Biden are gone but the Democrat Party is now communist and Maoist and they will get their vengeance if they're given the chance.

Bank executives blow the whistle on how Obama, Biden admins pressured them to debank conservatives

In the wake of President Donald Trump's executive order outlawing debanking, major bank executives told Fox News Digital that they were under pressure by the Obama and Biden administrations to deny services to individuals and businesses for political reasons.

"Those pressures were very, very real. When your regulator gives you a suggestion, it's not a suggestion, it's an order. The political stuff is very real, those pressures are real," a senior banking executive told Fox News Digital.

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The executives said that ambiguity in federal laws was exploited by regulators under the Obama and Biden administrations in order to pursue political objectives. According to one executive, banks were pressured to deny services to certain industries as part of Operation Choke Point and Operation Choke Point 2.0.

"When there's ambiguity in the law, beauty is in the eye of the beholder, and for a long time the beholder was the Obama and Biden administration," the official said.

A House Oversight Committee report found that "Operation Choke Point," a DOJ task force whose aim was to "choke out" legal companies disfavored by the Obama administration, worked with bank regulators to label certain industries, including firearms sales, as "high risk."

Trump ended "Operation Choke Point" in 2017 during his first term. However, a House Financial Services Committee hearing last week heard accusations that former President Joe Biden had rebooted the initiative and targeted crypto firms for debanking as part of "Operation Choke Point 2.0."

Trump claimed to be a victim of debanking, and accused JPMorgan Chase, Bank of America and others of refusing more than $1 billion in his deposits. First lady Melania Trump wrote in her memoir that she and her son Barron were debanked, as well.

"I was shocked and dismayed to learn that my long‑time bank decided to terminate my account and deny my son the opportunity to open a new one.... This decision appeared to be rooted in political discrimination, raising serious concerns about civil rights violations," Melania wrote.

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Former Republican Sen. Sam Brownback accused JPMorgan Chase of having debanked his nonprofit, the National Committee for Religious Freedom, in 2022. JPMorgan maintains that they never engaged in political debanking, but updated their code of conduct to state that they do not discriminate based on political views or religious beliefs in 2025 -- which the bank stated was merely the codification of existing policy.

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According to Inspire Investing's Tim Schwarzenberger, CFA, whose firm has been deeply involved with combating debanking, banks would use the criteria of "reputational risk" to deny services to politically disfavored groups and individuals.

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Another senior banking executive said that negative news coverage was considered criteria for "reputational risk." During the period between the 2020 presidential election and Trump's return to the Oval Office in 2024, he was subject to a flurry of lawsuits and negative press. Banks, according to the official, responding to the wishes of regulators, would use the negative press directed at conservatives as a pretext to debank them.

"It's all kind of set up, it's like somebody set the table, and it all ends up focusing on Republicans and conservatives," the executive said.

The executive added that banks were under constant regulatory pressure to file more "suspicious activity reports," reports submitted to the Treasury about unusual banking activity, and to debank more customers. He said the regulators didn't need to explicitly tell banks to deny services to any particular individual or business. The administration's preferences were well known, and the banks were expected to comply.

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"It's better for us to just not take on certain business if we suspect an examiner can come in and say six months ago you shouldn't have taken this client," the bank official told Fox News Digital.

And speaking of weaponization of government: Tulsi Gabbard revoked the security clearances of 37 officials involved in the RussiaGate Coup Attempt.

DNI Tulsi Gabbard @DNIGabbard

Being entrusted with a security clearance is a privilege, not a right. Those in the Intelligence Community who betray their oath to the Constitution and put their own interests ahead of the interests of the American people have broken the sacred trust they promised to uphold. In doing so, they undermine our national security, the safety and security of the American people and the foundational principles of our democratic republic.

This is why, at @POTUS
' direction, @ODNIgov
directed the revocation of the security clearances of 37 current and former intelligence professionals who have abused the public trust by politicizing and manipulating intelligence, leaking classified intelligence without authorization, and/or committing intentional egregious violations of tradecraft standards.

Our Intelligence Community must be committed to upholding the values and principles enshrined in the US Constitution and maintain a laser-like focus on our mission of ensuring the safety, security and freedom of the American people.

I guess that's why this Deep State scumbag is salty.

A former FBI agent and friend of Peter Strzok who recently resigned from the bureau after he says his relationship with the disgraced ex-FBI official was scrutinized by Dan Bongino is now defending Crossfire Hurricane, suggesting Donald Trump was in contact with Russian intelligence, comparing the FBI under Kash Patel to the KGB and Chinese spy services, throwing around Nazi comparisons, and more.

Michael Feinberg, who was recently the assistant special agent in charge at the FBI's Norfolk field office in Virginia, left the FBI at the end of May after he claims his direct superior told him that FBI deputy director Dan Bongino was scrutinizing his longtime friendship with Strzok, the disgraced FBI special agent who played a key role in the Trump-Russia investigation and was fired following the emergence of biased anti-Trump texts he had exchanged with FBI lawyer Lisa Page, with whom he was having an affair.

Rather than take a polygraph test about his relationship with Strzok, Feinberg says he quit the FBI instead of risking the possible demotion he says he was facing in place of the big promotion to FBI headquarters which he had been expecting.

The FBI's website says that "although we have used polygraphs to screen new employees for many years, since the 2001 Robert Hanssen spy case, we have also been requiring regular polygraph examinations of FBI employees with access to sensitive compartmented information."
Anti-Trump operatives' new hero

Since leaving the bureau, Feinberg has been hailed this summer by some as a possible "Resistance 2.0"-style hero by multiple anti-Trump foes. He has appeared on CNN and MSNBC, talked with Daily Show host and Trump critic Jon Stewart, got a job at the Brookings Institute-affiliated anti-Trump outlet Lawfare, and more, all while lashing out at the FBI under FBI Director Kash Patel.

Feinberg has hinted at a nefarious connection between Trump and Russia, has compared the current bureau to Communist-style spy agencies, and has suggested that the Trump administration had commonalities with the Nazi regime, all while promoting the views of his friend Peter Strzok and seeking to downplay the FBI's wrongdoing during its politically-motivated Crossfire Hurricane inquiry into now debunked claims of Trump-Russia collusion.

posted by Ace at 06:40 PM

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