The latest tool of those involved in the cancel culture has been the use of “debanking.” This occurs when a prominent individual or organization is informed by their bank that they will no longer be allowed to use banking services.
Nigel Farage faced such a statement from his bank in the UK because he was perceived as a politically exposed person (PEP) due to his previous involvement in Brexit. The bank argued that their decision to close his account was because his bank account fell below is “wealth limit.” Farage admitted that his account was below the limit but said that had never been a problem in the past.
In this country, Dr. Joseph Mercola announced that his business bank accounts along with the accounts of his CEO and CFO and even the bank accounts of his family members were all closed. He has had accounts with the bank for 18 years but was shut down, he believes, because of his previous statements about the Covid vaccine.
The National Committee for Religious Freedom led by former US Ambassador Sam Brownback had its checking account canceled without notice. Although its advisory board includes former US Attorney General Jeff Sessions, former Alliance Defending Freedom President Michael Farris, and Family Research Council President Tony Perkins, the group was told they must disclose a list of donors and a list of candidates they intended to support if they wanted to the bank to reopen their account.
Perhaps you are noticing a pattern. These banks aren’t closing the accounts of progressive individuals or politically liberal groups. They aren’t prying into the rosters of any other advocacy groups.
That is why some members of Congress are ready to investigate these latest examples of debanking. They pose a threat to free speech and religious liberty.