Banks aren’t closing accounts of eight senators who voted to overturn 2020 election

 Banks aren’t closing accounts of eight senators who voted to overturn 2020 election

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The senators at issue are Ted Cruz of Texas, Josh Hawley of Missouri, Cindy Hyde-Smith of Mississippi, John Kennedy of Louisiana, Cynthia Lummis of Wyoming, Roger Marshall of Kansas, Rick Scott of Florida, and Tommy Tuberville of Alabama. 

All candidates for federal office as well as their campaign committees must report donors and expenditures and disclose the name of the banks where they have accounts. In addition to servicing these accounts, the banks extend loans and lines of credit that allow candidates to spend money before their campaigns raise it. Critics say they should sever these accounts given the willingness of those politicians to undermine a keystone of democracy. Robert Maguire, who directs research at Citizens for Responsibility and Ethics in Washington, wants those banks to more closely examine these accounts:

“I think at a fundamental level they have an ethical obligation to at least make the consideration of whether or not these members are people they want to do business with, whether they are enabling a seditious mentality that has taken over a significant part of the Republican Party,” Maguire said. He suggested they might want to consider not only whether it is ethical to do business with those who helped fuel an act of “domestic terrorism,” but also to evaluate their creditworthiness.

Said Beth Rotman, national director of money in politics and ethics at Common Cause, “One would think they should certainly be as attentive to the funds of individuals who are engaged in sedition as they would be attentive to the funds of a legal state marijuana enterprise.” Rotman points out that some banks will not allow cannabis businesses to set up accounts even in the 15 states that have fully legalized recreational use of the herb.

Here are the banks where those eight senators’ campaign committees have accounts:

BB&T Bank/Truist Bank (North Carolina): Cruz, Hawley, Hyde-Smith, Scott, and Tuberville. Hawley’s Fighting for Missouri PAC also has a separate account with the bank.

Chain Bridge Bank (Virginia): Marshall, Tuberville, and Scott, with Scott’s Let’s Get to Work PAC having a separate account. 

Community Bank (Mississippi): Hyde-Smith and her Conservatives Harvesting Success PAC have accounts.

EagleBank (Maryland): Hawley and Marshall’s Defend Our Conservative Senate PAC have accounts.

Farmers Bank & Trust (Kansas): Marshall.

First Bank and Trust (Louisiana): Kennedy and his Pelican PAC have accounts

Hilltop National Bank (Wyoming): Lummis and her Steer PAC have accounts.

Plains Capital Bank (owned by Hilltop) (Texas): Cruz

Perhaps other people who have accounts in those banks or share in their ownership can be persuaded to add their voices to those urging corporations, including banks, to cut ties with these anti-democratic senators. 

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