Nearly three-quarters of Trump voters remain highly concerned about debanking, according to a poll obtained by Breitbart News.
A survey over 1,000 Trump 2024 voters conducted by GrayHouse found that MAGA voters remain very concerned about politicization in the banking industry, namely debanking.
Seventy-four percent of Trump voters are concerned about debanking, including 49 percent of MAGA Republicans. Seventy-one percent of Trump voters say it is unacceptable for banks to close accounts based on political or religious beliefs, or how the business operates.
“This polling shows voters are keenly aware that powerful banks are using their size to decide who gets access to the financial system and who doesn’t, and they clearly reject the idea that megabanks should act as political or economic gatekeepers,” Will Hild, the executive director of Consumers’ Research, said. “JPMorgan’s collapsing favorability shows just how out of step Wall Street is with everyday consumers, who are sending a clear message that they want banks that exist to serve their customers, not control them.”
Consumer Data Rights & Debanking Memo by jmanship
Trump in January filed suit against JPMorganChase and its CEO Jamie Dimon for “debanking” Trump in early 2021. JPMorganChase has said that it does not close accounts for political or religious reasons.
A JPMorganChase spokesperson said in a statement in late January, “JPMC does not close accounts for political or religious reasons. We do close accounts because they create legal or regulatory risk for the company. We regret having to do so but often rules and regulatory expectations lead us to do so. We have been asking both this Administration and prior administrations to change the rules and regulations that put us in this position, and we support the Administration’s efforts to prevent the weaponization of the banking sector.”
Dimon has said he supports reform and agrees that “debanking is bad.”
“I want to change these rules. I actually applaud the Trump administration, who’s trying to say that debanking is bad and we should change the rules,” Dimon said in December.
After learning of the president’s allegation in the lawsuit against the nation’s largest bank, 78 percent side with Trump over the bank, with nine percent that back the bank over Trump.
President Donald Trump last December signed an executive order to ban debanking.
Eighty-five percent of Trump voters back the president’s executive order, which prevents federal regulators from denying services based on political views. Only ten percent oppose.
However, only 13 percent have heard “a lot” about the executive order, and 37 percent have heard nothing at all about the executive order.
The Consumer Financial Protection Bureau under Trump will rewrite a rule, known as Section 1033, that requires banks let customers securely share their own financial data with other companies without paying fees.
The survey found:
- 81 percent of Trump voters support letting customers securely share their financial data with other companies without paying additional fees, with eight percent that oppose.
- 85 percent say it is important that customers can easily switch banks or financial apps by taking their data with them.
“Trump voters are sending an unmistakable message on both fronts. 78% to 9% side with the President over JPMorgan Chase in the debanking lawsuit, and the bank’s favorability collapses 79 points once voters learn about the allegations. 89% to 7% support requiring free access to their own financial data, the single strongest finding in the survey. 84% use fintech apps, 74% say these apps have made managing money easier, and 73% say they will ultimately pay JPMorgan’s fees,” the survey memo stated.
Trent England, the executive director of Save Our States, said in a statement:
The big banks oppose President Trump’s affordability agenda, demanding new fees that Americans know will hit their pocketbooks. New polling backs up common sense: Americans want open banking protections that let them access their own data without paying hidden tolls. If the big banks have their way, the working men and women of America know they will be the ones to pay the price. And voters agree that new fees would stifle American innovation. It’s no wonder why open banking is broadly supported by Americans, and Save Our States is proud to continue speaking out on their behalf.
Ken Blackwell, a former Ohio state treasurer who is on the Council for National Policy, said, “Americans have lost trust in the big banks because time and again they’ve proven to be biased and untrustworthy. Unleashing innovation and giving families more control over their financial futures are key pillars of President Trump’s affordability agenda. The banks want to throttle that innovation and limit choice because preserving the status quo gives them more money and more power.”
He added, “Thanks to President Trump and his team for standing up to the banks and fighting on behalf of all Americans.”
GrayHouse conducted the poll by surveying 1,248 Trump voters between February 4 and 6. The poll has a 2.8 percent margin of error.
Read the full article here