Justice Department Subpoenas Bank of America in Jeanine Pirro Debanking Probe
BAC•Justice Department subpoenas Bank of America and other top lenders, seeking customer lists and internal records on politically linked account closures under US Attorney Jeanine Pirro’s office. Subpoenas demand details on individuals ‘debanked’ and reasons for closures, expanding a Treasury Department review into potential political discrimination by banks.
1. DOJ Subpoena Triggers Expanded Debanking Probe
On June 10, the U.S. Attorney’s Office in Washington, led by Jeanine Pirro, issued a subpoena to Bank of America seeking details on whether customer accounts were closed due to political affiliations. The action broadens a government review of potential politically motivated 'debanking' following an executive order on politicized account closures.
2. Subpoena Scope Demands Customer and Closure Data
The subpoena requires Bank of America to produce lists of individuals classified as 'debanked', internal communications explaining closure reasons, and timelines of account terminations spanning the 2021 riots through present. Similar requests have been sent to other major banks, seeking consistent records for cross-institution comparisons.
3. Implications for Compliance and Reputation
This investigation exposes Bank of America to potential enforcement under the Financial Institutions Reform, Recovery and Enforcement Act, raising the prospect of fines and increased regulatory oversight. The probe could heighten compliance costs and reputational risk if politically motivated closures are substantiated.
