House Oversight Committee Chairman James Comer has announced that his committee is investigating allegations that financial institutions are “debanking” conservatives. Comer revealed that he has received “numerous instances” of complaints from conservatives who have been refused service by banks, and expressed concern that these actions may be motivated by ESG (Environmental, Social, and Governance) policies or government interference.
Specifically, Comer cited cases of energy companies and conservative activists who have been denied banking services, and stated that the committee will be examining whether these actions are discriminatory or part of a larger government-led effort to censor conservative voices. Comer has also hinted that the committee will be looking into whether bank examiners are acting with a “wink and a nod” to discourage certain individuals or organizations from banking at certain institutions.
The committee chair emphasized that banks will be subject to intense scrutiny and will be asked to provide answers to several key questions. Comer emphasized that he hopes to uncover the truth behind the allegations and bring an end to what he characterized as an unlawful practice. He also noted that the committee is not targeting debanking in its usual sense, but rather is focused on denying access to basic banking services.
