Banking and financial services have become weaponized. Christian and conservative groups labeled 'high risk' can be denied financial services, and it's happening under the cover of federal banking laws.

Among the victims? Indigenous Advance Ministries, which helps orphans and widows in Africa. Its account was closed by Bank of America.

Family Council of Arkansas, which promotes traditional family values, was canceled by JPMorgan Chase.

The pro-family Ruth Institute lost its payment processor after being targeted as a hate group by the Southern Poverty Law Center. 

*** Bank of America Accused of Discrimination After 'Politicized Debanking' of Christian Charity

'We're Not Going to Do Business with You Anymore'

"We received an email saying, 'We're not going to do business with you anymore,'" said Dr. Jennifer Roback Morse, founder of the Ruth Institute. "My colleague went right then and looked at our bank account and it was gone. The credit card processing was gone."

And what qualified The Ruth Institute as an alleged "hate group"? Morse says, "The dream of the Ruth Institute is that every child be welcomed into a loving home with their own mother and father married to each other."

*** 'A Bank Kicked Me Out... Froze My Debit Cards': Why Nick Vujicic Is Launching a Bank for Pro-Lifers

Even the National Committee for Religious Freedom, a multi-faith organization headed by former US Senator and Religious Freedom Ambassador Sam Brownback, had its bank account closed by JPMorgan Chase. 

Brownback told us, "I went in to make a deposit at a branch here in Kansas about three or four weeks after we'd opened up the account, I think. And the teller there said 'That account's been closed.' And I go, 'What?' and they said, 'That account's been closed. Your funds will be being sent to you in a couple of weeks.'" (Screengrab image: via CBN News)

Federal Banking Laws Provide 'Cover'

Banking expert Nick Anthony at the CATO Institute says federal law gives banks a myriad of excuses to cancel groups whose values present so-called "reputational risks." He adds the real culprit may also be federal regulators, who can pressure banks to cancel certain groups.

Anthony told us, "Banks are deputized as de facto law enforcement investigators, and they face a very real consequence of missing anything. When banks have concerns about things like money laundering or suspicious source of funds or they don't like where the funds are going for any reason, they're prohibited from telling customers what the actual reason is. They're prohibited from telling people that they filed these reports to the government and now something has gone awry."

That said, Anthony believes the law is also being used as cover to cancel groups banks don't like.

Sam Brownback would later learn that JPMorgan Chase canceled his group after designating him as a "politically exposed person" with a "customer risk profile," a designation Brownback said is only supposed to be applied to foreign nationals, not former US Senators.

Nevertheless, JPMorgan Chase CEO Jamie Dimon said at a shareholder meeting this year, "No apologies are necessary and no corrective action is necessary."

LGBTQ Pressure on Corporate Boardrooms

It's no secret that corporate boardrooms are under pressure to push DEI: Diversity, equity, and inclusion, which includes the LGBTQ agenda.

The most powerful investment firm in the world, Blackrock, has stated that LGBT diversity is "in their DNA," and nearly every major credit card issuer has openly donated money to the LGBTQ cause; a cause most conservative faith groups oppose.

Morse of the Ruth Institute says, "The profit motive is not their only motive anymore. The people who are choosing the regulatory process are people who have a vision for family life in America. And they're using their power to create a world in their own image."

Bank of America Responds

Bank of America, which closed Indigenous Advance Ministries' account, said "religious beliefs are not a factor in any account-closing decision," but that it was because of a side business of debt collection services run by the ministry.

However, while we found one instance where a liberal group was de-banked, most have been conservative or faith groups.

After his experience, Brownback started a website called 'Chased Away,' so others like him could share their story.

"You ought to be able to be a Christian if you want to and use whatever bank you want to and not be excluded based on your values. You shouldn't have these sorts of experiences happen to you just for peacefully practicing your faith," Brownback said.

Unfortunately, Anthony expects the de-banking trend to continue until Congress finally changes the banking laws to protect people of faith. Subscribe for free to Breaking Christian News here

Dale Hurd: Since joining CBN News, Dale has reported extensively from Western Europe, as well as China, Russia, and Central and South America.

To receive daily emails from Breaking Christian News to your inbox CLICK HERE

Why the New RomCom ‘MERV’ Can Bring You Joy This Christmas

How the 'Heavens Declare the Glory of God': What One Man's Research Has Revealed about The Star of Bethlehem

Over 50 Tren de Aragua Gang Members Imported Under Democrats Indicted in Nebraska in Massive Nationwide ATM Jackpotting Scheme

205 Child Victims Located and Rescued in DOJ Sex Exploitation Op

Trump Admin Pausing All Off Shore Wind Project Construction Due To National Security Concerns

Trump Grants Federal Workers Two Additional Christmas Holidays

America Fest 2025: Erika Kirk Endorses 'My Husband's Friend' JD Vance for President

Brent Bozell Confirmed as US Ambassador to South Africa

Jury Quickly Convicts Judge Who Helped Illegal Migrant Escape ICE

Feds Estimate Somali-Linked Fraud in Walz's Minnesota Could Top $9 Billion

Trump SUSPENDS 'Green Card Lottery' after Program Let Brown University–MIT Shooting Suspect Enter the US

Brown, MIT Shooter Found Dead for Days in NH Storage Unit; Motive Still a Mystery

House Passes Bill to Criminalize Transgender Mutilation of Children

November Inflation Falls to 2.7%, Lower than Expected: 'This Is Good News for Wall Street; It’s Good News for Main Street'

MOVIEGUIDE's Review of the New Animated Film: DAVID

Massachusetts Drops Controversial Gender Ideology Mandate for Licensing Foster Care Parents

Nearly 40% of Women Suffer Severe Grief for Years after Abortion, Miscarriage: Study

Former Pfizer Vice President: COVID Shots Were 'Designed to Cause Injury,' Reduce Fertility

Dutch Sheets Shares a Warning from the US National Counterterrorism Center

Venezuela: Trump's Pressure Campaign and Maduro's Fury