Trump has the back of those who support him. He won’t let them get walked over.
And Donald Trump goes scorched earth on this powerful CEO for what he did to conservatives.
At the World Economic Forum in Davos, Switzerland, President Donald Trump publicly criticized Bank of America CEO Brian Moynihan, accusing the bank of “debanking” conservative customers.
Speaking via video link from Washington, DC, Trump addressed Moynihan directly, alleging that the financial institution had closed accounts of conservatives, an issue that has drawn protests from over a dozen state attorneys general.
“I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank,” Trump said. “They don’t take conservative business.”
He questioned whether regulatory pressure from the Biden administration played a role, adding, “I hope you’re going to open your banks to conservatives, because what you’re doing is wrong.”
Moynihan avoided directly addressing the accusations, instead pivoting to Bank of America’s sponsorship of the upcoming 2026 FIFA World Cup.
The bank later issued a statement denying the allegations. “We serve more than 70 million clients, we welcome conservatives and have no political litmus test,” a spokesperson said.
The controversy isn’t new. Virginia Attorney General Jason Miyares has previously criticized Bank of America for closing accounts linked to Christian ministries and for its unwillingness to do business with firearm manufacturers, fossil fuel companies, and ICE contractors.
The bank also faced Republican backlash after it provided customer data to federal authorities investigating the January 6, 2021 Capitol riots.
Even Trump’s youngest son, Barron, reportedly encountered banking discrimination. According to First Lady Melania Trump’s memoir, a US lender refused to open an account for him after Trump’s first term.
Earlier in the Davos gathering, Moynihan praised Trump’s administration for fostering a strong investment climate.
“When you talk to the people around here, from all over the world, [in] business, it’s the No. 1 place to invest. Not by a little bit, by a lot,” he said to Fox Business. He also expressed optimism about Trump’s regulatory rollbacks, describing them as beneficial for economic growth.
Moynihan, who has led Bank of America since 2010, also serves as the chair of Brown University’s board of trustees.
His tenure there has faced its own controversies, including a backlash over pro-Hamas demonstrations on campus.
The protests led to a contentious agreement to hold a vote on divesting from companies accused of supporting alleged human rights abuses against Palestinians.
Ultimately, the trustees, under Moynihan’s leadership, rejected the divestment proposal in October, though the incident caused significant fallout, including the resignation of a trustee and a pause in donations from a prominent alumnus.
Moynihan’s ability to navigate both financial and political turbulence has been tested repeatedly, and his appearance at Davos has only added to the scrutiny, especially after Trump decided to call him out for alleged discrimination against conservatives.
It’s nice to have a president in office who will fight for Americans in the face of corruption.
Stay tuned to The Federalist Wire.
