The Ben Shapiro Show Morning Wire: Bank Cancels Religious Non-Profit & New Tax Rules | 12.26.22
Dec 26, 2022
Allegations of viewpoint discrimination arise as a major bank closes an account linked to a religious organization. New IRS rules could heavily impact side hustles with lower reporting thresholds. In Europe, concerns grow over blackouts this winter as countries turn to wood for energy, surpassing renewable sources like wind and solar. The podcast dives into the intersection of finance and ideology while also examining the consequences of government policies on energy and economic inequality.
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Chase Bank Closure
- JPMorgan Chase Bank closed Sam Brownback's National Committee for Religious Freedom (NCRF) account.
- Chase vaguely suggested providing donor information might reinstate the account.
Chase's "Red-Dotting"
- Chase uses an internal process called "red-dotting" to flag clients deemed reputational risks.
- This can lead to account closures or refusal of services due to negative media, impacting client relationships.
Mike Flynn's Account
- In 2021, Chase attempted to cancel General Mike Flynn's credit cards, citing reputational risk.
- Following public backlash, Chase claimed the cancellation was an error.