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A bipartisan coalition of unlikely “bedfellows” opposed to financial blacklisting by tech giants and Wall Street behemoths is rising.that CFPB Director Chopra noted in a legal filing last week that political and religious groups “across the spectrum” have been “debanked,” or lost their banking services by major financial institutions. Chopra and the CFPB hope to curb this practice.
Pro-life groups such as the Arakansas Family Council and the Ruth Institute has also been debanked by J.P. Morgan Chase and Wells Fargo over allegations that the groups promoted hatred. Fang said that the unlikely “bedfellows” – that is the Christian conservatives, Republican legislators, and populist Biden officials such as Chopra – have created a new coalition to protect free speech. They would have to overcome big tech and banking lobbyists, as well as officials at the Department of Homeland Security and leftist nonprofits who “favor unlimited corporate rights to remove users over allegations of misinformation or hate.
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