Baton Rouge, LA – Louisiana State Treasurer John Fleming, M.D., has praised President Donald Trump for his recent remarks at the World Economic Forum in Davos, Switzerland. In his address, President Trump criticized Bank of America for allegedly refusing business from conservative clients, urging CEO Brian Moynihan to “start opening your bank to conservatives because many conservatives complain.” The president described such actions by financial institutions as “wrong.”
“It is refreshing to hear the President articulate what many business owners and political leaders across the country have been saying about Bank of America and similar institutions,” said Treasurer Fleming.
Louisiana’s Stand Against Discriminatory Practices
In August, Dr. Fleming made headlines by recommending that Bank of America not be approved as an authorized fiscal agent for the State of Louisiana, citing Louisiana Revised Statutes 49:317 and 320. This decision was based on evidence suggesting that Bank of America had engaged in “de-banking” practices, denying services to clients—including religious organizations, gun manufacturers, and fossil fuel producers—due to their political affiliations or activities, rather than violations of bank policies or laws.
Critics accused Fleming of engaging in “cheap political theater” at the time, but the State Financial Officers Foundation (SFOF) has supported his decision. According to the foundation, Bank of America scored poorly on the Viewpoint Diversity Score Business Index, a measure of corporate support for free speech and religious freedom. The index found the bank to disproportionately support progressive organizations such as the Human Rights Campaign and the Center for American Progress, while offering limited backing to faith-based organizations.
“This behavior reflects a pattern of internal political and religious bias,” stated SFOF in its report.
Looking Ahead
Dr. Fleming expressed gratitude for President Trump’s support, saying, “Thank you, President Trump, for validating our tough but necessary decision in Louisiana. With this type of public pressure, I hope that Bank of America will end any discrimination based on political viewpoints.”
The treasurer’s remarks underscore the growing debate over corporate accountability and viewpoint diversity in financial services, with Louisiana taking a stand to ensure equitable treatment for all customers.