BOA Debanks Another Ministry
Breakpoint
Colson Center
4.8 • 2.8K Ratings
🗓️ 28 September 2023
⏱️ 1 minutes
🧾️ Download transcript
Summary
The Christian Post recently reported that the Bank of America closed the accounts of Indigenous Advance Ministries, a Christian nonprofit whose goal is discipleship and business training for young Ugandans. The bank denies closing the accounts based on the ministry's religious beliefs, claiming it instead closed them because of the kind of debt-collection business it has in Uganda.
Still, Alliance Defending Freedom Senior Counsel Jeremy Tedesco points out that, under an Obama-era policy, many large banks have leveraged risk tolerance policies to "box out disfavored but legal business operations." Often, that means conservative and Christian groups.
There are unknowns involved in this case, but debanking is a very real threat to religious organizations. There are too many examples for all of them to be coincidences. Some institutions will even refuse to allow charitable gifts to be made to some groups through a donor-advised fund.
Consider where you bank, and how those institutions treat Christian organizations, churches, mission groups, and nonprofits. There are other options.
For more resources to live like a Christian in this cultural moment, visit Colsoncenter.org
Transcript
Click on a timestamp to play from that location
| 0:00.0 | With a woman to look at culture from a Christian worldview, I'm John Stone Street with the point. |
| 0:04.6 | The Christian Post reported recently that the Bank of America closed the accounts of |
| 0:08.2 | indigenous advanced ministries, a Christian nonprofit whose goal is discipleship and business |
| 0:12.6 | training for young Ugandans. |
| 0:14.3 | The bank denies closing the accounts based on the ministry's religious beliefs, but because |
| 0:17.8 | of the kind of debt collection business it has in Uganda. |
| 0:20.7 | Still, Alliance Defending Freedom Senior Counsel Jeremy Tedesco points out that under an Obama |
| 0:25.4 | era policy, many large banks have leveraged risk tolerance policies to box out disfavored |
| 0:30.7 | but legal business operations. |
| 0:32.7 | Often that means conservative and Christian groups. |
| 0:35.1 | There are unknowns involved in this particular case, but debanking is a very real threat to |
| 0:39.1 | religious organizations. |
| 0:40.1 | There are already too many examples for all of them to just be coincidence. |
| 0:44.0 | Some institutions even refuse to allow charitable gifts to be made to subgroups through a donor |
| 0:48.0 | advice fund. |
| 0:49.4 | Consider where you bank and how those institutions see Christian organizations, churches, |
| 0:53.7 | and mission groups and nonprofits for the Colson Center on John Stone Street. |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Colson Center, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Colson Center and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

