RawHide Pictures, the production firm responsible for a biographical film about former California Governor Ronald Reagan, is demanding transparency from Bank of America regarding the closure of its corporate accounts. The company presented a 2021 letter from the bank to The California Post, which confirmed that the institution intended to terminate the relationship. Although the accounts were eventually reinstated following an appeal, the production company was forced to urgently secure alternative financial services during the interim. Bank of America has not provided a rationale for the initial decision and continues to decline requests for an explanation regarding the severed ties.
The incident has drawn comparisons to broader allegations of financial exclusion targeting conservative figures and entities. RawHide Pictures noted that the account closure occurred around the same time the bank allegedly cut ties with other right-leaning individuals, including former President Donald Trump. Trump stated last year that both Bank of America and JPMorgan Chase rejected his deposits after he left office. The production company characterized these actions as part of a wider strategy by major financial institutions to isolate conservative voices from public life.
The article suggests this trend accelerated following the January 6, 2021, Capitol riot, when social media platforms suspended Trump’s accounts and media outlets reportedly avoided broadcasting his claims of election fraud. It further cites Trump’s prior censorship by Twitter in July 2020 for sharing a video of doctors questioning coronavirus science. Additionally, the report references a 2018 Bank of America announcement to cease services for certain gun manufacturers, which was later reversed but allegedly established a precedent for excluding groups disliked by the political left.
The text also references historical government scrutiny of conservative nonprofit applications by the IRS, suggesting such pressure extended into the private sector. The Department of Justice under Trump issued subpoenas to JPMorgan Chase and Bank of America to investigate these practices. The production company asserts that the public deserves to understand the extent of these financial exclusions. Details regarding the specific timeline of the account restoration or the current status of the DOJ investigation are not yet clear.
