Debanking Takes Many Forms. Here’s The Latest One.

Debanking is the process by which a bank shuts down a customer’s account because the customer has conservative political views.

Most people take banking for granted. They have checking and savings accounts, own some bank certificates of deposit (CDs), use credit cards for everyday purchases and debit cards to withdraw cash from ATMs. Customers also rely on banks for wire transfers including automated paychecks, payments from customers and payments to suppliers.

Online bill payments through bank websites are just one more example. We’re so used to the convenience of banking services. It’s like the air we breathe.

Imagine if all of that were taken away just because you support Donald Trump or made a contribution to a MAGA-style candidate. That’s debanking. Running to open accounts at another bank won’t help because the banks share their blacklists and other banks won’t let you open an account if you’ve been debanked already.

This happened to Nigel Farage, a popular UK politician (just elected to Parliament last week). Farage had the resources and popularity to fight back to the point that the CEO of NatWest Bank (the institution that led the debanking) was fired. It also happened to John Eastman, a distinguished constitutional lawyer who advised Donald Trump in relation to the 2020 election fraud.

Debanking can take many forms. In addition to shutting down accounts, banks can also report certain transactions to the government that can then attract the attention of FBI goon squads.

A recent instance of that involves a California law that requires legitimate gun shops to report purchases using Visa or MasterCard with a special retail code that lets the government know you have bought a gun. This law is not only an invasion of privacy, it also allows the government to use the data to compile a list of all gun owners in a certain vicinity.

That’s a large step in the direction of a national gun registry that will allow the government to confiscate all guns when the time comes. Legitimate gun owners and organizations have resisted such gun registries for decades. Now, the government is creating one with the help of the banking system and bank-issued credit cards.

Fortunately, some states are pushing back and prohibiting the collection of such data. If you’re out to make a gun purchase, you should do your homework on whether the state where your store is located offers privacy or participates in the gun registry scam.

Banks may be necessary, but in all too many cases, they’re not your friends.

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