Claims of Political Debanking Spark Executive Order plus Media Misleads on Gerrymandering Claims
The Ben Ferguson Podcast
iHeartPodcasts
4.9 • 4.7K Ratings
🗓️ 6 August 2025
⏱️ 31 minutes
🧾️ Download transcript
Summary
1. Allegations of Political Debanking
- Former President Donald Trump claims that major banks like JP Morgan Chase and Bank of America refused to do business with him after he left office, despite his substantial assets.
- Trump alleges this was due to political bias, targeting conservatives, Christians, and Second Amendment supporters.
- He recounts being forced to close long-standing accounts and being denied the ability to deposit over $1 billion.
2. Draft Executive Order
- Trump is reportedly preparing an executive order to penalize banks for politically motivated debanking.
- The order would invoke laws like the Equal Credit Opportunity Act, antitrust laws, and consumer protection statutes.
- Enforcement could include financial penalties, consent decrees, or other sanctions.
3. Market & Bank Responses
- JP Morgan Chase and Bank of America stocks dipped slightly following Trump’s remarks.
- JP Morgan denied closing accounts for political reasons but expressed openness to regulatory reform.
- Bank of America declined to comment.
4. Claims of Gerrymandering
- The podcast criticizes Democratic-led states for alleged gerrymandering, presenting data on disproportionate representation of conservatives in states like California, Massachusetts, New York, and Illinois.
- It contrasts this with redistricting efforts in Texas, defending them as legal and representative.
5. Texas Legislative Walkout
- Over 50 Texas House Democrats fled the state to block a GOP redistricting plan.
- Governor Greg Abbott responded with threats of civil arrest and legal action.
- The walkout is compared to past quorum-breaking strategies in Texas.
6. Flood Relief Controversy
- Democrats are accused of downplaying flood recovery efforts in Texas, calling it a “Republican talking point.”
- The episode criticizes Democratic lawmakers for allegedly prioritizing political strategy over disaster relief.
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Transcript
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| 0:00.0 | This is an I-Heart podcast. |
| 0:05.1 | I've got a very important update for you on a story that we talked about yesterday, and it was |
| 0:11.5 | the claim by Donald Trump that banks had been debanking conservative groups, Christian |
| 0:18.9 | organizations, Second Amendment organizations, and now we know |
| 0:23.0 | even more about how banks had been debanking Donald Trump after he left the White House in 2016. |
| 0:31.9 | In an interview on CNBC, Donald Trump said that J.P. Morgan Chase and Bank of America, two of the biggest |
| 0:41.6 | banks in this country, refused to do business with him, despite him having hundreds of |
| 0:48.0 | million in cash and longstanding customer relationships with them. He alleged in the interview that J.P. Morgan asked him to close decades-old accounts |
| 0:59.2 | with just 20 days notice, and that Bank of America even declined his deposit of over $1 billion. |
| 1:12.0 | Trump attributed this to political bias, saying they discriminated against many |
| 1:17.1 | conservatives, many Trump supporters, and many Christians. |
| 1:22.2 | Supporters of Donald Trump, like tech investor, Mark Andreessen, have echoed broader claims of conservatives being, |
| 1:30.9 | quote, debanked, including crypto entrepreneurs under what they called Operation Checkpoint 2.0, |
| 1:39.9 | which brings us to the draft executive order that I told you about yesterday. |
| 1:46.0 | It would penalize banks for political debanking. |
| 1:50.5 | I want you to hear President Donald Trump calling out the J.P. Morgan Chase CEO Jamie Diamond for debanking him and also calling out Bank of America as he tells a story of what |
| 2:02.7 | happened when he left the White House the first time. |
| 2:06.2 | I did discriminate. |
| 2:07.3 | I had J.P. Morgan Chase. |
| 2:09.4 | I had hundreds of millions of dollars in cash. |
| 2:12.0 | I could see if they want to, you know, if they want to do something bad because you don't |
| 2:16.5 | have any money and you're |
... |
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