A new Treasury Department report has raised serious concerns about financial institutions denying banking services to conservative and religious organizations, revealing the influence of the Southern Poverty Law Center (SPLC) in decisions affecting politically disfavored groups.
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The Office of the Comptroller of the Currency (OCC) last week examining how major banks and financial institutions used broadly defined reputational risk policies to restrict services to lawful businesses and organizations.
According to the report, numerous conservative groups affected by debanking practices had previously been designated as hate groups by the SPLC, a progressive advocacy organization long criticized by conservatives for its political classifications.
“Today’s report provides irrefutable evidence that the nation’s largest banks have denied, debanked and discriminated against customers and lawful businesses,” Comptroller Jonathan Gould said.
“Americans should have access to financial services regardless of their beliefs, affiliations, or political views,” Gould added.
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The report found that banks frequently lacked measurable standards for assessing reputational risks, raising concerns that subjective political judgments influenced decisions about who could access financial services.
Currently, the SPLC faces separate federal criminal charges alleging it misused donor contributions to pay individuals associated with extremist organizations.
The SPLC has denied the allegations, defending its informant program as an effective tool for preventing violence and gathering intelligence about extremist groups.
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