The Gateway Pundit has uncovered alarming proof of Financial institution of America’s in depth ties to the Chinese language Communist Social gathering (CCP).
By way of its investments, board member connections, and collaborations with CCP-linked organizations, certainly one of America’s largest banks seems to have positioned earnings above nationwide safety, elevating severe questions on overseas affect.
Financial institution of America’s entanglement with the CCP dates again to 2005, when it invested $3 billion in China Development Financial institution (CCB), the second-largest financial institution in China on the time.
This unprecedented funding, which marked the largest-ever overseas monetary deal in China, signaled a willingness to align with CCP pursuits to realize entry to the profitable Chinese language market.
Whereas Financial institution of America bought its stake in 2013, it stays one of only eight U.S. banks permitted to domestically incorporate in China, a privilege granted solely with CCP approval.
The connections prolong to Financial institution of America’s management. Maria Zuber and Lionel L. Nowell III, two board members, additionally serve on the board of Textron, an aviation firm with deep operations in China.
Textron partnered with AVIC, a Chinese language state-owned protection conglomerate sanctioned by the U.S. Treasury for aiding the Individuals’s Liberation Military.
Experiences recommend that Textron’s plane designs have been copied by Chinese language firms, additional underscoring the dangers of such partnerships.
Arnold Donald, one other Financial institution of America board member, oversaw Carnival Company’s 2015 partnership with China State Shipbuilding Company (CSSC), a CCP-controlled entity.
This deal was financed by China’s sovereign wealth fund and aimed to provide cruise ships in China. Even on the time, CSSC’s position in Xi Jinping’s military-civil fusion strategy was well-known, however the partnership proceeded nonetheless.
Denise Ramos, one other board member, additionally serves on the board of Raytheon, a serious U.S. protection contractor that continues to be closely reliant on Chinese language suppliers.
In June 2023, Raytheon’s CEO admitted that the corporate couldn’t decouple from China, and it was revealed that Raytheon had subcontracted with Dahua, a sanctioned Chinese language tech firm, as not too long ago as December 2023.
Pierre de Weck, a senior advisor to non-public fairness agency Normal Atlantic, additionally serves on Financial institution of America’s board.
Since de Weck joined Normal Atlantic in 2015, the agency has closely invested in controversial Chinese language firms, together with Bytedance, the guardian firm of TikTok; Shein, which faces allegations of compelled labor; and WuXi Biologics, an organization concerned in dual-use organic analysis and flagged by U.S. lawmakers as a safety threat.
Financial institution of America has additionally financially supported organizations selling CCP-aligned narratives.
In 2021, the financial institution donated $1 million to Asian Individuals Advancing Justice (AAAJ), a bunch that has criticized U.S. efforts to fight CCP espionage and actively opposed the Justice Division’s “China Initiative.”
Stewart Kwoh, AAAJ’s founder and a longtime accomplice of Financial institution of America, has direct ties to CCP-linked initiatives, together with working with the Chinese language Consulate in Los Angeles.
Such deep entanglements with the CCP could clarify why the Financial institution of America is so hostile to conservatives.
Final 12 months, a coalition of 15 lawyer generals despatched a scathing letter to CEO Brian Moynihan accusing the financial institution of discriminating towards individuals primarily based on their non secular and political views.
“Your discriminatory conduct is a severe risk to free speech and spiritual freedom, is probably unlawful, and is inflicting political and regulatory backlash,” the letter despatched said.
“Your financial institution must be clear with and guarantee us, its shareholders, and others that it’s going to not proceed to de-bank clients for his or her speech or non secular train.”
Attorneys General of More Than a Dozen States Allege Bank of America is ‘De-Banking’ Conservatives
Among the many most distinguished conservatives focused by Financial institution of America is John Eastman, who had his financial institution accounts closed on the similar time a left-wing decide in California disbarred him over his efforts to show huge fraud that tainted the outcomes of the 2020 presidential election.
Final month, President Trump called out the financial institution for his or her discriminatory practices, resulting in a proper response from the corporate on social media.
“Financial institution of America serves greater than 70 million shoppers and we welcome conservatives,” the financial institution stated in a press release.
”We might by no means shut accounts for political causes and don’t have a political litmus take a look at.”
Financial institution of America simply made their debanking of conservatives scandal an entire lot worse by mendacity about it.
This Group Observe is stellar. pic.twitter.com/3PdlftJTLI
— Paul A. Szypula (@Bubblebathgirl) January 24, 2025
If you’re a conservative in search of a financial institution that aligns along with your values, Financial institution of America might not be the suitable selection for you.
