If they can do it to me, then they can do it to you, claimed Nigel Farage, one of the architects of Brexit.
Farage, a conservative British politician, worries that people of different political persuasions may be denied banking services. When his political views clashed with his bank’s, Farage was cut off from their services.
After Farage’s public outcry, the bank reversed its original decision.
Farage said that many of the employees at ESG-focused institutions have a deep-seated intolerance for anyone who does not share their perspective. He noted that banks use consumers’ social media activity to determine their creditworthiness. He said that hundreds upon thousands of people had told him about their terrible experiences with banks.
The British politician described a customer who refused to justify a cash withdrawal and whose account was canceled due to employee mistreatment.
Farage explained that in 2008, the banking industry was bailed out with financial support, yet, now, they’re cutting off thousands of people by shutting down branches and refusing to do business with cash-based companies.
‘I’m getting the idea this is much, much greater than any of us could have envisioned,’ Farage said.
This practice is also common among American banks. The Alliance Defending Freedom’s (ADF) website reports that JPMorgan Chase has asked the National Committee for Religious Freedom to provide its contributors’ identities and political leanings.
ADF writer Jay Hobbs says this trend of debanking cannot be allowed to continue without resistance. The founding fathers of our country understood that protecting fundamental, pre-political rights is the government’s primary function. He argued that dangers to life, liberty, and the pursuit of happiness may come from anybody, not just the government.
Chief executive officers (CEOs) of banks and other financial organizations play a vital role at this tumultuous juncture in our country’s history. Hobbs said that it is imperative that such influential people publicly resist debanking.