Christian nonprofit claims it was 'debanked' by Bank of America over its religious views
A Christian ministry claiming it was "debanked" by Bank of America filed a consumer complaint this week to Tennessee Attorney General Jonathan Skrmetti to determine whether their accounts were closed due to religious discrimination.
Indigenous Advanced Ministries – a Memphis, Tennessee-based nonprofit engaged in charitable efforts for orphaned children in Uganda through various partnerships – was warned without explanation by Bank of America in April that the organization was "operating in a business type we have chosen not to service at Bank of America" and would be closed within 30 days.
In May, Bank of America sent another letter stating its "risk profile no longer aligns with the bank's risk tolerance."