https://dailyhodl.com/2024/03/10/wells-fargo-abruptly-terminating-customers-bank-accounts-say-attorneys-general-in-16-states-demanding-immediate-freeze-on-lenders-alleged-debanking-practices/
More than a dozen state attorneys general (AGs) are accusing banking titan Wells Fargo of abruptly terminating customers’ accounts without warning. In a letter addressed to Wells Fargo CEO Charles Scharf, 16 Republican AGs across the country accuse the trillion-dollar lender of debanking customers in a political and discriminatory manner. ADVERTISEMENT The AGs say Wells Fargo has started a new trend that looks at clients’ political views as a basis for retaining banking access. “Within this context, Wells Fargo’s decisions to debank Republican candidates and gun industry participants reveal a new troubling trend… Blanket prohibitions and policies against providing service to certain customers lead to the inevitable question – who is next? Which types of companies or people will Wells Fargo determine cannot be allowed as customers? Is this why Wells Fargo apparently closed the accounts of former Republican candidates Lauren Witzke and Pete D’Abrosca on the same day in 2021?” The AGs say the alleged pattern may be in violation of state laws.
