Debanking is happening, and it’s worse than people realize.

Though often misunderstood, this phenomenon – whereby financial institutions, under federal regulatory pressure, deny services to individuals or groups for ideological reasons – has become a flashpoint for conservatives.

Fortunately, just this year, both JPMorgan Chase and Citigroup announced they would halt their respective debanking practices relating to religious and political reasons. Yet Regions Bank – headquartered right here in Alabama – hasn’t expressed that commitment.

Meanwhile, when legislation addressing debanking was introduced in the Alabama Legislature – of all places – it went nowhere. That’s likely due to a widespread and dangerous misconception: that addressing debanking through legislation amounts to gove

See Full Page