Free Republic

Citigroup CEO Jane Fraser got a 6% pay bump for her performance in 2023, a year the bank's profits dropped 38% and Fraser began a dramatic restructuring that will result in an estimated 20,000 job cuts. The board awarded her total compensation of $26 million, ... The $26 million for Fraser was the lowest among CEO rivals at JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley, who received between $29 million and $37 million. Bank of America's Brian Moynihan was the only CEO among this group to experience a compensation decline. ... Fraser had a lot...

State officials have threatened legal action against nonprofit climate alliances and banks’ participation, highlighting the contentious relationship between environmental initiatives and economic interests.

@RudyGiuliani : A meeting is coming out in 1-2 days in State Dept. in which Hunter snuck in the back door ... That meeting took place with Tony Blinken."

House GOP investigators in May launched a probe into the bank's voluntarily providing private consumer data to the FBI after reports made the move public. . House Judiciary Committee Chairman Jim Jordan on Thursday served Bank of America with a subpoena, seeking information related to the firm's voluntary sharing of customer data with the FBI to aid its Jan. 6 investigations. "In 2021, BoA provided the FBI—voluntarily and without any legal process—with a list of individuals who made transactions in the Washington, D.C., metropolitan area using a BoA credit or debit card between January 5 and January 7, 2021," the...

JPMorgan Chase admitted to pressuring the financial software company Intuit into preventing gun sellers from using the company’s payment processing services, according to a letter Sen. Ted Cruz sent Monday after looking into the policy. Bank of America, meanwhile, denied pressuring Intuit into banning gun manufacturers from using its famous QuickBooks software. “Woke big banks are increasingly weaponizing their power to cut off law-abiding businesses from accessing banking services,” Cruz, R-Texas, told The Daily Signal in an email statement Monday. [snip] Intuit, the financial software company best known for producing QuickBooks, had adopted an acceptable use policy previously listing “guns...

Banks routinely snitch on customers and even deny services to people politicians don’t like. The House Judiciary Committee is investigating banks for sharing Americans' financial information with the FBI without regard for privacy concerns. In fact, there's no doubt about the threat to civil liberties posed by the government's leverage over the financial industry; that's long established. At question in this investigation is whether the danger to our freedom inherent in that cozy relationship is being wielded in political warfare between the country's political factions. But the larger problem should be fixed no matter what lawmakers discover. "Today, Chairman Jim...

A Christian ministry claiming it was "debanked" by Bank of America filed a consumer complaint this week to Tennessee Attorney General Jonathan Skrmetti to determine whether their accounts were closed due to religious discrimination. Indigenous Advanced Ministries – a Memphis, Tennessee-based nonprofit engaged in charitable efforts for orphaned children in Uganda through various partnerships – was warned without explanation by Bank of America in April that the organization was "operating in a business type we have chosen not to service at Bank of America" and would be closed within 30 days. In May, Bank of America sent another letter stating...

BREAKING🚨 Rep. James Comer says six banks, including JP Morgan, Bank of America, and Wells Fargo, submitted over 170 suspicious activity reports to the Treasury Department regarding the Biden family, alleging their involvement in money laundering, human trafficking, and tax fraud. The American banks also raised concerns about wire transfers received by the Bidens from foreign state-owned entities, notably from the Chinese government, allegedly for the purpose of money laundering and tax evasion. The foreign wires were found to be directed towards Biden's business associates before being funneled through 20 shell companies associated with the Bidens. Subsequently, the funds were...

Not too long ago, Wells Fargo got its head handed to it by regulators, drawing a $3 billion fine for opening fake accounts in real customers' names, to beef up their bonuses as well as fool shareholders into thinking the business was growing, potentially driving up the stock price. That's no partisan take -- that's just plain dishonesty. The bank had to pay a $3 billion fine, at least one executive faced prison and a hefty personal fine of $17 million, and if anything, it was too little. A small fry bank that did this would rightly be shut down...

The FBI faced a grilling on the Hill Wednesday as Director Christopher Wray answered multiple questions about how our nation’s top investigative and domestic intelligence agency has devolved into a rogue security bureau. From questions surrounding a raid on a pro-life activist’s home to whether the FBI is illegally obtaining location data without warrants, it seemed everyone has a question regarding the conduct of this once reputable law enforcement body. "They did not storm his house...not at gunpoint!" pic.twitter.com/G8c6tHFNGa— Townhall.com (@townhallcom) July 12, 2023Katie wrote about how the FBI acquires the personal bank records of Americans who have purchased firearms....

On Tuesday, the Consumer Financial Protection Bureau took Bank of America to task for a list of illegal actions that undermine customer trust. [Snip] Bank of America agreed to pay a total of $150 million in fines and reimburse customers $100 million. [Snip] “Bank of America is a repeat offender. [Snip] Double-dipping: The bank had a previous policy of charging a $35 fee once — and then repeatedly for the same transaction — when a customer didn't have enough money in the account to cover the bill. If the company or person who was owed the money tried to resubmit...

@RepThomasMassie According to FBI whistleblowers, Bank of America shared private financial information of its customers (such as who had made purchases at gun stores) with the FBI, without a warrant or legal process. @Jim_Jordan and I are now demanding to know if other banks are doing the same.

Two more banks have been subpoenaed by the House Oversight Committee as a result. ------------------------------------------- Rep. Marjorie Taylor Greene has revealed that the Federal Bureau of Investigation has at least two more FD-1023 forms, which relate to informants, relating to the Biden family’s business ventures. Two more banks have been subpoenaed by the House Oversight Committee as a result. Greene revealed on Human Events with Jack Posobiec that the discovery came after reviewing the FBI informant document on Thursday, which revealed that Biden during his time as Vice President received $5 million from Burisma, the Ukrainian energy company his son...

Police in Houston have arrested two teenagers over a shocking 'jugging' incident that left a woman paralyzed Joseph Harrell, 17, and Zy'Nika Ayesha Woods, 19, were charged after the victim, Nhung Truong, 44, was attacked after taking $4,300 from an ATM Truong is now paralyzed, uses a wheelchair, and needs round-the-clock support from her family Joseph Harrell, 17, and Zy'Nika Ayesha Woods, 19, were charged after Nhung Truong, 44, was attacked after taking $4,300 from an ATM. Shocking video of the incident shows Truong violently grabbed and body slammed onto the ground by an attacker who followed her for more...

While waiting on the February jobs report from the US Bureau of Labor Statistics (BLS), I noticed that the big 4 banks (Bank of America, JPMorgan Chase, Citi and Wells Fargo) are drowning in net realized losses as The Federal Reserve combats 1) too many years of loose monetary policy under former Fed Chair Janet Yellen and 2) too much spending under Pelosi, Schumer and … McConnell. At a micro level, we have Silicon Valley Bank (SVB) SVB Is racing to prevent a bank run as funds advise pulling cash. Panic is spreading across the financial world as concerns about...

‘Bank of America, with no directive from the FBI, datamined its customer base,’ whistleblower George Hill told the House Judiciary Committee.An FBI whistleblower told congressional investigators that the D.C. field office pushed local offices to open criminal investigations into Americans based solely on financial transactions Bank of America tracked and voluntarily provided to the bureau, according to testimony reviewed by The Federalist.“Bank of America, with no directive from the FBI, datamined its customer base,” whistleblower and recently retired FBI supervisory intelligence analyst George Hill told investigators for the House Judiciary Committee, according to Hill’s testimony. Hill had identified himself last...

Fed tightening 'always breaks something,' top Bank of America economist says The U.S. economy could be headed for a "no landing" scenario thanks to the hot labor market, but that might not be good news for the stock market, according to Bank of America analysts. In an analyst note published Friday, Bank of America chief economist Michael Hartnett predicted a "no landing" scenario in the first half of the year, where there is no immediate slowdown in growth but inflation remains above trend. That would likely force the Fed to raise interest rates much higher than previously forecast — and...

On Thursday, posts on social media showed video footage of Bank of America customers standing in line at the Bank, frantic to get information about their bank accounts that had been reduced by large sums of money- with no explanation of what was happening to them.The footage prompted fears that the United States is entering a time of financial crisis.One Independent Media source said Americans need to get ready for a ‘bail in’ and offered a laundry list of things Americans need to be thinking about as we enter some very tumultuous times.“Bail-ins are where they just take some money...

Many Bank of America customers posted on social media Wednesday that they were experiencing major problems with the digital payment app Zelle. Individuals took to Twitter to share messages received from Bank of America that claimed they had negative account balances. Others stated they were having difficulty getting through to the bank's customer service department. Twitter user Jeepeto Cuarenton shared an image indicating his account balance was $-2,060.44. WHAT THE HECK? @BofA_Help @BankofAmerica I want my money back ASAP! I don’t have money for gas! Stuck at home. Your customer service phone doesn’t work! WHATS WRONG? pic.twitter.com/MB0U0VcQHG — Jeepeto Cuarentón...

The Federal Reserve has raised interest rates six times this year in its effort to lower inflation—currently at 7.7%—to what it considers to be the ideal level of 2%. But how did the central bankers decide that 2% is ideal rather than some other number? It’s a question several Fed critics have raised. On Friday, Bank of America was the latest to weigh in on the matter, saying bluntly, “there is nothing special about 2%.” The Fed has company in its 2% inflation target. Several countries have the same target, seemingly giving more confirmation that 2% is perfect. Bank of...