{"id":2163893,"date":"2024-01-31T12:35:02","date_gmt":"2024-01-31T17:35:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/snls-trump-de-banking-gaff-accidentally-elevates-hot-button-issue\/"},"modified":"2024-01-31T12:43:24","modified_gmt":"2024-01-31T17:43:24","slug":"snls-trump-de-banking-gaff-accidentally-elevates-hot-button-issue","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/snls-trump-de-banking-gaff-accidentally-elevates-hot-button-issue\/","title":{"rendered":"SNL&#8217;s Trump &#8216;De-Banking&#8217; blunder boosts controversial topic"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsnls-trump-de-banking-gaff-accidentally-elevates-hot-button-issue%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2163893&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Saturday Night Live Sparks Conversation on De-Banking<\/h2>\n<p><span style=\"font-weight: 400\">Saturday \u2062Night Live <\/span><span style=\"font-weight: 400\">made headlines this weekend for all the wrong reasons. During Weekend Update, a cast member suggested that Donald Trump\u200c stumbled and introduced a \u201cnew \u2062term\u201d to \u2064the debate called \u201cde-banking.\u201d What followed was a rather feeble \u200dattempt at mocking the former president.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In reality,\u200c de-banking \u200dis no\u200d laughing matter. It \u200cmeans losing \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dem-senators-unveil-marijuana-reform-bill-aim-to-decriminalize-pot\/\" title=\"Dem Senators Unveil Marijuana Reform Bill, Aim To Decriminalize Pot\">essential financial services<\/a>, like \u200da bank account, payment processing,\u2064 or even\u200c insurance, because of your views. And it is on \u200bthe rise \u2014 so much so that\u2062 the U.S.\u2062 Supreme\u200b Court is set to hear arguments involving the issue this\u2064 term.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Funny enough, the case originates in \u2064the Empire State (\u201cLive from New York,\u201d anybody?), where the\u200b National Rifle Association \u200bis challenging New York\u2019s attempt to coerce banks and insurance companies to withdraw services from the group. The NRA alleges\u2063 that the Department of Financial Services \u200c\u2014 at the behest of then-Governor Andrew Cuomo \u2014 used its vast power to \u2062regulate \u201creputational risk\u201d along with back-channel \u200dmeetings, \u200cpublic investigations, and threats of fines to \u2063punish the group for its Second Amendment advocacy. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This is not an isolated incident. A string of religious ministries and conservative \u200bgroups\u2062 have also been <\/span><a href=\"https:\/\/www.viewpointdiversityscore.org\/resources\/instances-of-viewpoint-based-de-banking\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">victimized<\/span><\/a><span style=\"font-weight: 400\">  \u2062by de-banking. As Alliance Defending \u2064Freedom points out in a friend-of-the-court brief\u2064 filed in support of the NRA\u2019s position, \u2062pro-life\u200d group Heartbeat International was recently canceled by its insurance\u200d provider over its \u201canti-abortion\u201d advocacy.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Likewise, Bank of America de-banked Indigenous \u200dAdvance Ministries, an\u200d ADF client that serves impoverished Ugandan\u2062 widows and orphans. The bank closed Indigenous Advance\u2019s long-standing account as well as the account of a local church that donates to the ministry. The bank claimed it no longer wanted to serve their \u200b\u201cbusiness type\u201d and that Indigenous \u2063Advance\u2062 exceeded the \u201cbank\u2019s risk tolerance.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">It did this right before a planned\u200c mission trip to Uganda, sending Indigenous Advance\u2063 scrambling to open new accounts and \u2062drastically reducing the funds for the trip.\u2062 It couldn\u2019t pay its Ugandan ministry partners \u200d\u2014 who live\u2062 meal to \u2062meal \u2014 for several\u200b weeks. And it\u2062 had to temporarily reduce aid to \u2063the impoverished people they serve.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Similar instances \u2063of de-banking abound. Former\u200c Brexit leader Nigel\u2063 Farage\u2019s high-profile \u200dcase resulted in the <\/span><a href=\"https:\/\/www.reuters.com\/business\/finance\/natwest-board-backs-ceo-alison-rose-over-farage-account-row-2023-07-25\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">ouster<\/span><\/a><span style=\"font-weight: 400\">  of megabank NatWest\u2019s CEO. Serial\u200c offender JPMorgan Chase\u2019s <\/span><a href=\"https:\/\/www.wsj.com\/articles\/jpmorgan-targeted-by-republican-states-over-accusations-of-religious-bias-903c8b26?mod=Searchresults_pos1&#038;page=1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">hit list<\/span><\/a><span style=\"font-weight: 400\">  \u200c includes the <\/span><a href=\"https:\/\/familycouncil.org\/?p=25159\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">Arkansas Family Council<\/span><\/a><span style=\"font-weight: 400\">, <\/span><a href=\"https:\/\/www.foxbusiness.com\/politics\/chase-bank-missouri-conservative-group\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">Defense of Liberty<\/span><\/a><span style=\"font-weight: 400\">, \u2063and U.S Ambassador Sam Brownback\u2019s <\/span><a href=\"https:\/\/www.newsweek.com\/stop-troubling-trend-politically-motivated-debanking-opinion-1787639\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">National Committee \u2063for Religious Freedom<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h3>The Rise \u200cof De-Banking<\/h3>\n<p><span style=\"font-weight: 400\">There are many reasons \u2064for this phenomenon, but the root \u200ccause is vague terms of service. <\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cReputational\u201d and \u201csocial\u201d risk policies pervade \u2063financial institutions. Customers at\u2063 all 28 commercial\u2064 banks scored in Alliance Defending Freedom\u2019s <\/span><a href=\"https:\/\/www.viewpointdiversityscore.org\/business-index\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">index<\/span><\/a><span style=\"font-weight: 400\">  \u200cthat measures corporate respect for free speech and religious freedom are currently vulnerable to de-banking.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Most\u200d alarmingly, 7 of\u2062 the nation\u2019s 10 largest commercial banks \u200b\u2014 including\u2064 the top 3 \u2014 have \u200b\u201creputational risk\u201d or \u201chate speech\u201d policies. These policies\u2019 overly broad and\u2063 subjective language permit\u2062 employees to discriminate based on a customer\u2019s \u200cviewpoint and then hide their viewpoint-based actions behind opaque standards. They also allow \u2064abuse by government regulators.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A positive ruling in the NRA case \u2014 which, in a comedic twist that should provide fodder\u200b for SNL writers, \u200cis being argued by the ACLU \u2014 would \u200daffirm that the government \u2063cannot carry out its censorship schemes by co-opting third \u200dparties as censors. \u2062That would help.\u2063 But \u2064that does not address the\u200d many de-banking decisions that can be \u200dlaid at the feet\u2062 of private actors.<\/span><\/p>\n<h3>The Need for State \u200cAction<\/h3>\n<p><span style=\"font-weight: 400\">The solution\u200c to this problem may lie with the states. This state \u2063legislative season presents \u2064an opportunity for states interested\u200d in protecting against <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rapid-reaction-at-least-one-senator-is-fighting-back-against-bidens-political-harassment\/\" title=\"One Senator Fights Back Against Biden's 'Political Harassment'\">politicized de-banking<\/a> to act. Any such law should \u200bfocus on\u2063 the worst actors\u200d \u2013\u2063 the\u200d largest\u200d banks and payment processors. \u2062Thanks to wide-reaching government benefits,\u200d such\u2064 as greater lending power, FDIC insurance rates, subsidies, bailouts, and an anticompetitive chartering system, these \u200dinstitutions dominate \u200ctheir markets over\u200d state-level\u200c competitors yet are responsible for the worst de-banking incidents.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At a minimum,\u2062 the law should\u2064 prohibit denial of services based on religious or political beliefs, \u2064give customers \u200cthe \u200bright to \u2064ask for a detailed explanation when services are denied,\u200b empower the attorney \u2064general to enforce \u200cthe statute, \u2063and provide aggrieved customers a private right of \u200caction.<\/span><\/p>\n<p><span style=\"font-weight: 400\">No one should have to worry that \u200cthey could lose\u2062 their bank account, insurance coverage, or other\u2063 essential financial services because of their religious or political \u200cviews. Yet it\u2019s clear that \u200cvague \u200bfinancial service policies abused by private and government actors\u2063 pose a serious threat to everyone\u2019s freedom \u2063of speech and religion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">So, an inadvertent thanks to our pals at SNL for bringing up de-banking. It\u2019s \u200dabout time we talked about it. \u2064And it\u2019s about time for the law to require viewpoint neutrality from the biggest banks and payment processors.<\/span><\/p>\n<p>* * *<\/p>\n<p><em><span style=\"font-weight: 400\">Jeremy Tedesco is senior counsel and senior \u200cvice president of Corporate Engagement for <\/span><a href=\"http:\/\/www.adflegal.org\/?utm_source=wallstreetjournal&#038;utm_medium=oped\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">Alliance Defending Freedom<\/span><\/a><span style=\"font-weight: 400\">  (<\/span><a href=\"https:\/\/twitter.com\/ADFLegal\"><span style=\"font-weight: 400\">@ADFLegal<\/span><\/a><span style=\"font-weight: 400\">).<\/span><\/em><\/p>\n<p><em>The views expressed in this piece are those of the\u200c author \u2063and do not necessarily\u200d represent those of the Daily Wire. <\/em><\/p>\n<p> <\/p>\n<h2> \u200b What clear and objective standards should be established \u2063for financial institutions to follow when it comes to de-banking decisions\u200c related to customers&#8217; political or ideological beliefs? <\/h2>\n<p><span>  \u200d Financial institutions that engage in viewpoint-based discrimination. These laws \u2063should prohibit de-banking\u200d based on a customer&#8217;s political or\u200b ideological beliefs and provide clear and objective standards for financial \u200cinstitutions to follow.<\/p>\n<p>In addition, states can also \u2064require transparency and accountability from financial institutions. They can enact laws that require banks \u200dto disclose their \u2062policies regarding de-banking and \u200cprovide a clear process for customers to appeal\u200b de-banking decisions. This would ensure that customers\u200b have the opportunity to challenge discriminatory actions and hold financial institutions accountable for their decisions.<\/p>\n<p>Furthermore, state governments can also explore alternative ways to provide essential\u2062 financial services to individuals\u200c and organizations that have been de-banked.\u200b This could include establishing state-run banking programs or partnering with credit unions to ensure that these individuals and organizations have \u200baccess \u200bto the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-cryptocurrency-hasnt-gone-to-war-with-russia-yet\/\" title=\"Why Cryptocurrency Hasn\u2019t Gone to War With Russia Yet\">basic financial services<\/a> \u2064they\u2063 need.<\/p>\n<p>It is important to recognize that de-banking not \u200bonly affects individuals and organizations directly targeted, but it also has broader implications \u2062for\u2064 free speech and freedom of association. When\u200b financial institutions \u2063are able to arbitrarily deny services based on political or ideological \u2064beliefs, it hampers the ability of \u2063individuals and organizations to\u2064 express their opinions and participate in public discourse.<\/p>\n<p>The rise of de-banking is a concerning trend that must be addressed. \u200cIt is not a laughing matter and should \u2062not be dismissed as mere\u200b comedy fodder.\u200c It is a\u2062 real issue that requires serious attention from lawmakers\u200d and policymakers. By taking action at the state level, we can protect \u200dagainst \u2063politically motivated de-banking and uphold the principles of free speech and freedom\u2064 of \u200cassociation that are essential to a \u2062healthy democracy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saturday Night Live caused controversy with a cast member introducing the term &#8220;de-banking&#8221; during Weekend Update, mocking Donald Trump. However, de-banking is a serious issue, not a joke. It refers to losing access to banking services, highlighting the importance of addressing this matter responsibly<\/p>\n","protected":false},"author":775,"featured_media":2163894,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/01\/4Screenshot-2024-01-31-at-10.28.15-AM-2-copy.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2163893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/01\/4Screenshot-2024-01-31-at-10.28.15-AM-2-copy.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2163893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/775"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2163893"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2163893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2163894"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2163893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2163893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2163893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}