Alignment: Accused by President Trump and conservative state attorneys general of “debanking” religious and conservative customers and organizations; BoA rescinded the specific account-eligibility rule cited in those complaints in August 2025; the bank participated in Pride and DEI programs through the 2020s but has been pulling back since 2025.
Summary
Bank of America became a central target in the 2025 “debanking” controversy. President Donald Trump publicly accused Bank of America CEO Brian Moynihan at the Davos World Economic Forum of refusing service to conservatives. In August 2025, Bank of America rescinded the account-eligibility rule that conservative groups had identified as the basis for terminated accounts.
Claims & Sources
Claim 1: Trump publicly accused Bank of America (and JPMorgan) of refusing to do business with conservatives.
Sources: Reuters — Trump airs conservative complaints that Bank of America, JPM are debanking; New York Post — Trump rips Bank of America CEO over conservative debanking.
Claim 2: Bank of America rescinded the rule that had been cited in religious-conservative debanking complaints.
Source: New York Post — Bank of America axes rule that “debanked” religious conservatives.
Related Brands in Banks & Finance
JPMorgan Chase · Wells Fargo · Goldman Sachs · BlackRock
2025 update — DEI rollback (heavy-weighted criterion, +2): Bank of America announced changes to its diversity programs in 2025, applying a +2 corrective shift under our heavy-weighted DEI criterion. Rating moved from 2/9 to 4/9.
Source: Reuters — BofA scraps diversity goals for hiring (Feb 25, 2025)