Bank of America has triggered a “debanking” backlash after shutting down the account of a conservative Christian charity.
Memphis-based non-profit Indigenous Advance Ministries (IAM) provides necessities to Ugandan orphans had its account shut down by Bank of America.
The organization has filed a complaint to the Tennessee Attorney-General’s office over concerns its accounts were shut down because Bank of America disagrees with its “religious views.”
IAM, which claims to have had a banking relationship with BofA since 2015, supports pro-life and anti-same-sex relationship values, according to its website.
BofA firmly denies it “debanked” the body over these views but has refused to explain why the account was canceled.
The bank told the Daily Mail that “religious beliefs are not a factor in any account-closing decision.”
However, campaigners are calling for greater transparency over how firms decide which accounts to shut down.
The cancellation of IAM’s account comes as cases of political and religious “debanking” appear to be on the rise.
The term “debanking” hit headlines across the globe last month after UK politician Nigel Farage – a close ally of President Donald Trump who pioneered the country’s Brexit movement – fell victim to the trend.
Historically the term referred