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8-24-23 - Fox Business - The Bottom Line - Jeremy Tedesco - Indigenous Advance Ministries
Fox Business Network

Name: Fox Business Network


The Bottom Line

Name: The Bottom Line


Event location
Not online media
Original recording
08/24/2023 06:40 pm
MP4 (1280x720) Use clipper to adjust file type
RUSH TRANSCRIPT Dagen Bank ░░░░░░░░ America trying to debunk ░░░░░░░░ that they ve debanked ░░░░░░░░ Christian charity that provides ░░░░░░░░ to ugandan orphans Sean ░░░░░░░░ advance ministries filed a ░░░░░░░░ with the state s ░░░░░░░░ general s office over ░░░░░░░░ its accounts were closed ░░░░░░░░ to their conservative religious ░░░░░░░░ Dagen Bank of America ░░░░░░░░ the accusations claiming quote ░░░░░░░░ beliefs are not a ░░░░░░░░ in any account closing ░░░░░░░░ Sean our next guest ░░░░░░░░ representing the charity in ░░░░░░░░ legal battle senior counsel ░░░░░░░░ Tedesco Good to see ░░░░░░░░ What s going on ░░░░░░░░ What s the claim ░░░░░░░░ me on Bank of ░░░░░░░░ closed the account of ░░░░░░░░ ministry that feeds and ░░░░░░░░ orphans and widows in ░░░░░░░░ They also reached out ░░░░░░░░ closed the account of ░░░░░░░░ church in memphis Tennessee ░░░░░░░░ provides funding to that ░░░░░░░░ and they never gave ░░░░░░░░ satisfactory reason They did ░░░░░░░░ we always see in ░░░░░░░░ these debanking situations they ░░░░░░░░ vague policies like risk ░░░░░░░░ or excuses we don ░░░░░░░░ do business with businesses ░░░░░░░░ you anymore And our ░░░░░░░░ asked over and over ░░░░░░░░ four months for a ░░░░░░░░ reason for why the ░░░░░░░░ accounts were closed and ░░░░░░░░ of America wouldn t ░░░░░░░░ say a word They ░░░░░░░░ them at every turn ░░░░░░░░ we decided look we ░░░░░░░░ to do something here ░░░░░░░░ filed a consumer complaint ░░░░░░░░ the attorney general of ░░░░░░░░ Hopefully they ll pick ░░░░░░░░ that investigation We don ░░░░░░░░ know yet that s ░░░░░░░░ termination determination that will ░░░░░░░░ made later But you ░░░░░░░░ the banks can no ░░░░░░░░ get away with this ░░░░░░░░ ve seen too many ░░░░░░░░ like this where they ░░░░░░░░ on vague policies stonewall ░░░░░░░░ clients and when they ░░░░░░░░ called to account they ░░░░░░░░ reasons that don t ░░░░░░░░ any sense for why ░░░░░░░░ canceled the account It ░░░░░░░░ obviously trying to reverse ░░░░░░░░ excuses now for why ░░░░░░░░ did the bad act ░░░░░░░░ or five months ago ░░░░░░░░ they did here Dagen ░░░░░░░░ you done any digging ░░░░░░░░ you have any why ░░░░░░░░ they do it Except ░░░░░░░░ mean this is the ░░░░░░░░ thing about this situation ░░░░░░░░ ve stonewalled our client ░░░░░░░░ I said for four ░░░░░░░░ while he tried to ░░░░░░░░ a reason All they ░░░░░░░░ do is read the ░░░░░░░░ they had already sent ░░░░░░░░ him with the vague ░░░░░░░░ and provided no reason ░░░░░░░░ when daily mail an ░░░░░░░░ media organization called them ░░░░░░░░ months later and asked ░░░░░░░░ why they did it ░░░░░░░░ they had blue slips ░░░░░░░░ were coming up with ░░░░░░░░ lot of explanations for ░░░░░░░░ media So it s ░░░░░░░░ amazing to me that ░░░░░░░░ started talking to the ░░░░░░░░ giving them reasons for ░░░░░░░░ they closed the account ░░░░░░░░ they never once told ░░░░░░░░ client These are obviously ░░░░░░░░ the fact excuses for ░░░░░░░░ they did None of ░░░░░░░░ stand up to the ░░░░░░░░ scrutiny And so what ░░░░░░░░ have here is you ░░░░░░░░ a situation that I ░░░░░░░░ points out something that ░░░░░░░░ becoming more and more ░░░░░░░░ a problem and that ░░░░░░░░ that Americans are rightly ░░░░░░░░ that they could lose ░░░░░░░░ bank accounts because of ░░░░░░░░ political or religious views ░░░░░░░░ s wrong a Dagen ░░░░░░░░ Debt collection was one ░░░░░░░░ the things that Bank ░░░░░░░░ America pointed to Sean ░░░░░░░░ rightfully so When I ░░░░░░░░ in Congress jeremy I ░░░░░░░░ on the financial services ░░░░░░░░ was able to deal ░░░░░░░░ Bank of America its ░░░░░░░░ very liberal But also ░░░░░░░░ we found is you ░░░░░░░░ get the regulators that ░░░░░░░░ putting pressure on banks ░░░░░░░░ they ll usuriesing as ░░░░░░░░ risk as a blanket ░░░░░░░░ try to get banks ░░░░░░░░ stop banking industries or ░░░░░░░░ that they do not ░░░░░░░░ Absolutely Sean you re ░░░░░░░░ right These reputational risk ░░░░░░░░ that permeate the banking ░░░░░░░░ are a huge risk ░░░░░░░░ Obama Administration used them ░░░░░░░░ operate chokepoint to push ░░░░░░░░ industries that were disfavored ░░░░░░░░ political actors and they ░░░░░░░░ still on the books ░░░░░░░░ the threat is still ░░░░░░░░ We know there s ░░░░░░░░ ton of pressure You ░░░░░░░░ talking about esg and ░░░░░░░░ on your program today ░░░░░░░░ s a ton of ░░░░░░░░ through esg activism to ░░░░░░░░ people that the political ░░░░░░░░ disagrees with This is ░░░░░░░░ major tenet of what ░░░░░░░░ re trying to accomplish ░░░░░░░░ the fact that Bank ░░░░░░░░ America raised their risk ░░░░░░░░ policy here makes us ░░░░░░░░ curious about why exactly ░░░░░░░░ you actually debank indigenous ░░░░░░░░ a ministry that serves ░░░░░░░░ know poor people in ░░░░░░░░ of the most impoverished ░░░░░░░░ of the world digs ░░░░░░░░ for them provides food ░░░░░░░░ and clothing What is ░░░░░░░░ reason for this cancellation ░░░░░░░░ and all their excuses ░░░░░░░░ dagen you even talked ░░░░░░░░ debt collection the debt ░░░░░░░░ thing has nothing to ░░░░░░░░ with the ministry or ░░░░░░░░ the church Why did ░░░░░░░░ reach out and cancel ░░░░░░░░ memphis church s bank ░░░░░░░░ because of something a ░░░░░░░░ entity does?
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