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ESG

Tennessee Taking Lead In Protecting Civil Rights And Free Enterprise—And Stopping Political Debanking

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Tennessee Gov. Bill Lee

From the Daily Caller News Foundation

By ERIC BLEDSOE

 

Last week, Tennessee Gov. Bill Lee (R.) signed into law a first-of-its-kind ban on politicized debanking. Sponsored by Rep. Jason Zachary (R.) and Senate Majority Leader Jack Johnson (R.), HB 2100 will prohibit the nation’s largest banks from discriminating against individuals, businesses, and non-profits for their political and religious views.

The new law is a landmark reform to stop large banks from imposing political litmus tests on Americans.

This legislation (HB 2100) is, of course, a reaction to the trend of the largest financial institutions creating partisan barriers to Americans’ access to financial services. Last year, Bank of America closed the deposit and credit card accounts of Memphis-based non-profit Indigenous Advance Ministries. The organization works with Ugandan widows and orphans to provide for their basic needs through Christian charity. Bank of America refused to give Indigenous Advance a reason why they closed the accounts—just that they no longer wanted to work with their “business type.”

Indigenous Advance’s experience is like what the National Committee for Religious Freedom (NCRF) faced when JPMorgan Chase closed their accounts. NCRF promotes religious liberty for Americans of all religious faiths. Chase said it would restore NCRF’s accounts if it disclosed a list of its donors, told the bank which political candidates it intended to support, and sent them the criteria NCRF uses to decide who they want to support politically. NCRF, out of respect for their donors’ right to privacy, declined.

John Eastman, past attorney for former President Donald Trump, was debanked twice at the end of last year by Bank of America and USAA. Again, the banks provided little to no explanation for the sudden closures. Eastman told the Daily Caller that the banks said it was their policy to not provide any further information. Banks stonewalling their customers on why they close their accounts is alarmingly becoming a pattern.

In December 2022, Wells Fargo abruptly closed the personal and business accounts of Brandon Wexler, a Florida-based gun dealer. The bank’s only explanation was a brief mention that it was due to their review of account risk. Wexler had a personal account with Wells Fargo for 25 years and a business account for 14 years. One instance of an account closing might not be worthy of attention, but more and more examples like these are becoming more common. And the only common thread, besides banks refusing to explain their actions, is that the targets of debanking hold political and religious views unpopular on Wall Street and Pennsylvania Avenue. This does not appear to be a policy at one bank, but an unspoken policy across the industry. Commenting on Wells Fargo’s action against him, Wexler said, “I’ve been with them for 25 years,” […] “I’m a professional fireman. I do everything the right way. It’s messed up.”

But large banks debanking individuals and non-profits is not the full extent of politically motivated financial service providers’ discrimination. In September, Tennessee Attorney General Jonathan Skrmetti sent a letter sent a letter to financial service providers who are signatories to the Net Zero Financial Service Providers Alliance (NZFSPA) warning them that their environmental, social, and governance (ESG) strategies may be in violation of antitrust and consumer protection laws. Both state and federal laws prohibit coordinated or collaborative efforts between corporations to restrict trade or commerce. All members of NZFSPA agree to “(a)lign all relevant services and products to achieve net zero greenhouse gas emissions by 2050 or sooner, scaling and mainstreaming Paris Agreement-alignment into the core of our business.” Though the 27 members of NZFSPA are supposed competitors in the financial services market, their joint commitment to restrict sectors of the economy like fossil fuel is clearly a coordinated effort.

Large financial institutions’ boycott of fossil fuel and discriminatory actions against individuals and non-profits for their religious or political views may seem disconnected at first. But those following the ESG movement won’t be surprised to see these politically motivated efforts across multiple sectors. Last month, Montana Attorney General Austin Knudsen sounded the alarm over these radical policies to Wells Fargo CEO Charles Scharf with the support of 15 other state attorneys general. A member of the Net Zero Banking Alliance (NZBA), Wells Fargo has committed, alongside 143 other banks, to implement ESG policies. In the letter, the attorneys general noted that Wells Fargo has a record of debanking Republican candidates and the firearms industry, imposing race- and gender-based quotas on credit customers, and publicly committing to implement radical climate standards on the energy industry.

Leftist activists realize they cannot accomplish such a radical agenda of eroding individual rights and a free economy through the ballot box. ESG is a political tool that enables the far left to bypass the democratic process to will their worldview onto Americans’ lives. In response, policymakers and other stakeholders must strengthen and enforce civil liberties protections, consumer rights, and antitrust laws, so that political activists cease willing their agenda on citizens.

Fortunately, states like Tennessee are taking the lead in protecting civil rights and free enterprise.

Eric Bledsoe is a Senior Policy Fellow at the Foundation for Government Accountability.

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

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DEI

RIP DEI?

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From the Brownstone Institute

By  Laura Rosen Cohen

It wasn’t that long ago that America’s strongest and most important export was American culture and the global dissemination of the American Dream. From movies to music, from blue jeans to drive-in movies, and from fast food to fashion, there wasn’t a single country in the world or a single cohort of teenagers and young adults that didn’t want what America was offering.

Unfortunately, throughout the progression of the Vietnam War, American culture started to cannibalize itself. The anti-war, hippie, and protesting counterculture took the reins. American cultural institutions and artists pivoted away from patriotism and moved toward anti-Establishment and anti-Western positions for a variety of reasons, both ideological and financial.

Protest became the foundational position of a generation of artists, musicians, and thinkers. As a result, America’s most powerful civil export was completely defenestrated. The left took ownership of American culture and rebellion. And since then, the American left has adopted an increasingly aggressive and metastasizing woke ideology. The result has been the near complete ideological capture of most of American civil society.

Undeniably, there has been a near ideological capture of public education, public health administration (as evidenced by the Covid years), the legacy media, and the judiciary to name a few spheres of DEI influence. Woke ideology has arguably been the most noxious and dangerous export that America has ever sent out into the world and it didn’t seem like there was an end in sight.

But then, remarkably, in November 2024, America rolled out a blockbuster, the likes of which have never been seen before. It was the greatest comeback story in American history: The Return of President Trump. And in an instant, faster than a speeding bullet, faster than you could sing a chorus of YMCA, led by President Trump, American politics and corporate America began a slow and steady retreat from DEI policies.

These toxic notions have not only poisoned civic life in America and throughout the Western world but have also resulted in public policy decisions that have resulted in catastrophic loss of life and property. The apex of this policy disaster can clearly be seen within the raging blaze of fire in Los Angeles and in all the DEI policies that led to a Dante’s inferno in America. Los Angeles, where the Mayor was in Ghana  when disaster hit. Where there was no water in the hydrants, the infrastructure was crumbling, and where diversity was the policy priority for the LAFD and where $1 million of civil service salary buys precisely three woke hires named Kirsten, including one Kirsten who says it’s your fault if you end up in a fire, and where the Governor of California prioritized fish over humans.

Over the past several decades large swaths of corporate North America were bullied by a loud and vocal woke minority into adopting some of the most aggressive and ridiculous DEI and ESG policies on earth. Some corporate converts set their compasses to DEI like a north star and flopped spectacularly. Many, like Bud Light, are still licking their wounds from their predictable and avoidable “Go woke, go broke” fiasco  while other companies like Jaguar remained impenetrably thick-skinned and were rightly ridiculed and mocked for brand murder, dare we call it brandicide?

But now, the vibe shift is impossible to miss or ignore. In recent weeks, we have seen President Trump set his sights on DEI in the military and American corporations like Apple and Volvo starting to sing from the new hymn sheet, along with retail giants like Costco. 

And incredibly, this was just the tip of the anti-woke iceberg. In early January, following an earlier, fall visit by Mark Zuckerberg to Mar-a-LagoFacebook announced that it would be discontinuing its third-party “fact-checkers” (i.e. “censorship”) program and cutting its DEI hiring initiatives. And now, they are dropping like flies! McDonald’s and Amazon are the latest to axe their DEI programs.

Unfortunately, the astonishing and heartbreaking scenes in Los Angeles are a direct result of abject mismanagement of the city and state and exacerbated by unqualified hires and anti-human, anti-common sense policies that should never, ever have been permitted to escape the faculty lounges, let alone leap into civic life. The woke petri dish has already created colossal havoc in every element of civil society in America and in much of the rest of the Western world. Deep reflection and immediate change are needed.

If the deep blue voters of California recognize the folly of their choices and the destruction-driven bent of their elected leaders, if they demand answers and repudiate their woke ways, perhaps there is hope. For the good of the country, and indeed the entire Western world, America’s most poisonous export must be put to pasture once and for all.

Author

Laura Rosen Cohen is a Toronto writer. Her work has been featured in The Toronto Star, The Globe and Mail, National Post, The Jerusalem Post, The Jerusalem Report, The Canadian Jewish News and Newsweek among others. She is a special needs parent and also a columnist and the official In House Jewish Mother of internationally best-selling author Mark Steyn at SteynOnline.com

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DEI

Biden FBI shut down diversity office before Trump administration could review it

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From LifeSiteNews

By Calvin Freiburger

The Federal Bureau of Investigation (FBI) has shuttered its Office of Diversity & Inclusion (ODI) ahead of the executive branch’s handover from Joe Biden to Donald Trump, in what critics suspect was a move to destroy records before they could be reviewed by the former agency heads’ political opponents.

“We believe that differences in thought and belief, in race and religion, in orientation, and in ability contribute to more effective decision making, drive innovation, and enhance the employee experience,” the FBI declares, as reported by Fox News. “We know that a more diverse workforce allows us to connect with and maintain the trust of the American people. We also understand we have work to do. We stand committed, as today’s FBI, to fostering a culture of inclusivity and diversity.”

The bureau confirmed to Fox this week that it actually closed the office in December, without elaborating why. But while the elimination of the office is welcome news to conservatives, questions remain.

“We demand that the FBI preserve and retain all records, documents, and information on the now closing DEI Office—Never should have been opened and, if it was, should have closed long ago,” Trump said on Truth Social. “Why is it that they’re closing one day before the Inauguration of a new Administration? The reason is, CORRUPTION!”

The infusion of left-wing “diversity” priorities into every facet of government has been one of the most controversial aspects of the outgoing administration, as has the politicization of law enforcement agencies such as the FBI, from targeting peaceful pro-life activists for federal prosecution, to meeting with social media companies to collude on what speech the government wants censored, to branding “radical-traditionalist” Catholics as an alleged potential threat.

Fox notes that the FBI still has numerous identity-based entities, such as the American Indian and Alaska Native Advisory Committee, Asian Pacific American Advisory Committee, Black Affairs Diversity Committee, Bureau Equality, Hispanic Advisory Board, Near and Middle East Advisory Committee, Persons with Disabilities Advisory Committee, Veterans Affairs Advisory Committee, Women’s Advisory Committee, Blacks in Government, FBI African American Millennials, FBI Family, FBI Jewish Americans, FBI Latinos for Empowerment Advancement and Development, “FBI Pride,” Federal Asian Pacific American Council, and Federally Employed Women.

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