Editor’s Note: a statement from Louisiana Treasurer John Fleming, issued yesterday.

As Treasurer, I have recommended that Bank of America not be approved as an authorized fiscal agent in the State of Louisiana per LRS 49:317 and 320. This decision was not entered into lightly but was made because there is evidence that Bank of America is deliberately denying banking services to customers and potential customers (de-banking) of religious organizations, gun manufacturers, fossil fuel producers and others based simply on their political perspectives and activities, not because of any bank policy or law violations.

Since the 1960s, the people of the United States have made it clear that discrimination against fellow Americans is unacceptable. It appears that Bank of America, among other financial institutions, has revived this disgraceful practice.

It is my opinion and that of many Americans that financial institutions should not weigh in on matters involving a political viewpoint, either conservative or liberal, or Republican or Democrat. Such issues should be debated openly among the people and decided by their elected representatives.

As reported by the Washington Examiner, Bank of America de-banked at least two Christian organizations in 2023: 1) The Indigenous Advance Ministries, a Christian charitable organization that assists at-risk children, prisoners, and sex trafficking victims in Uganda. 2) The Timothy Two Project International, that trains pastors in more than 65 countries around the world. It has been widely reported that Bank of America contacted the organization and informed them they were involved in “a business type we have chosen not to serve.”

Furthermore, it has been widely reported in the media that Bank of America de- banked fossil fuel producers and gun manufacturers.

Overall, these actions amount to the weaponization of the American financial system. No American should be denied access to banking services or face discrimination because of their political viewpoints, party affiliation, religious beliefs, or occupation.

It is notable that Bank of America also joined the UN convened Net-Zero Banking Alliance, which pushes a green energy agenda that, if implemented, would potentially have extremely negative economic consequences for the people of Louisiana. Several months ago, I joined 14 other members of the State Financial Officers Foundation to denounce this ill-advised agenda of Bank of America.

Due to these documented discriminatory activities, the approval of the application of Bank of America to become an authorized fiscal agent for the State of Louisiana was not recommended to the Interim Emergency Board.