Bank of America has finally scrapped a controversial rule that critics say had sparked the “debanking” of charities and businesses associated with conservative religious groups, On The Money has learned.

BofA CEO Brian Moynihan has, along with JPMorgan Chase CEO Jamie Dimon , come under fire from President Trump for denying him banking services following his first term in 2021. As first reported by The Post, insiders say the banks were under pressure from the Biden administration to snub Trump following the Jan. 6 Capitol riots.

The banks’ shunning of Trump and MAGA – which came amid Biden’s politicization of US agencies such as the Fed, the Office of Comptroller of the Currency, and the FDIC – was based at the time on the so-called reputational risk clause in federal regulations to

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