Bank of America / Merrill Lynch

 

Boycott these woke Orwellian spies

 

china

 

THE BAD:

Regardless of your party affiliation, you will want to avoid doing business with Bank of America and Merrill Lynch.

 

Merrill Lynch assigns a communist China-style (Environmental, Social and Governance) ESG score to customers, then shares it with banks, lenders, etc. That score may be based on social justice warrior causes such as global warming, diversity, guns, political party affiliation, etc.

 

B of A snooped on customers and handed over data to the Feds after the Capitol Hill riot, providing such information as customer purchases of plane tickets to Washington DC, hotel room rentals and other purchases in the Washington DC area. Keep in mind that even the left-wing Apple put up a fight when the Feds asked for them to unlock the San Bernardino shooter's cell phone.

 

B of A teaches critical race theory to employees, urging white employees to "cede power to people of color."

 

B of A opposed Georgia's much needed voting reform bill. This was a clear attack on Republicans.

 

B of A also won't loan money to gun makers, thus a clear and reprehensible attack on the 2nd amendment.

 

Company individuals and PAC's donated 80% more to Biden than Trump.

 

B of A opposes North Carolina's common sense bathroom bill, whereby all public bathrooms and locker rooms are single-sex facilities. Men use the men’s room and women use the women’s room. Sexual identity is based on biology, as stated on one’s birth certificate.

 

THE GOOD:

Bank of America / Merrill Lynch has no redeeming qualities.

 

THE BOTTOM LINE:

Do not do business with Bank of America / Merrill Lynch.

 

 

MAJOR BROKERAGE ALTERNATIVES:

j = Indicates that broker uses JP Morgan Chase or BMO Harris Bank as custodial banker (of cash in your account)

NOTE: All of the major brokerages are offensive to one degree or another. These are the least offensive brokers:

1. j Zachs Trade - Essentially uses Interactive Brokers LLC, to provide custodial banking through JP Morgan Chase. If you use Zachs Trade, in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your account. Either invest it or transfer it to your bank account. Zachs Trade mirrors what InteractiveBrokers does as far as ESG goes. We rate Zachs Trade as a slightly better choice than both InteractiveBrokers and Charles Schwab.

 

2. j InteractiveBrokers - InteractiveBrokers is a mixed bag. On the bright side, their employees and PAC's have a stellar donation record. A solid 87.6% of donations went to Republicans in 2020. However, IB uses JP Morgan Chase (a "worst" company) as their custodial bank. InteractiveBrokers also uses ESG to rate investable companies. At least, so we are told, they do not use ESG to rate their own customers, as Merrill Lynch does. If you use InteractiveBrokers, then in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your account. Either invest it or transfer it to your bank account. Also, do not open a bank/checking account with IB, which would further patronize JP Morgan Chase. We rate InteractiveBrokers as a slightly better choice than Charles Schwab, and a much much better choice than Merrill Lynch.

 

3. j g Charles Schwab - Schwab is a mixed bag. On the bright side, Schwab employees and PAC's have a solid donation record (84% to Republicans). On the downside, Schwab uses JP Morgan Chase as their custodial bank (when you park cash in your account). If you have an existing Schwab account, tell them to STOP using JP Morgan Chase. Also, if you use Schwab, then in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your Schwab account. Either invest it or transfer it to your Comerica bank account. Also, do not open a bank/checking account with Schwab, which would further patronize JP Morgan Chase. We also note that Schwab charitable suddenly cut off donations to the NRA. If you are a staunch gun supporter, then you might want to skip doing business with Schwab.

 

PRIVATELY HELD BROKERAGE ALTERNATIVES:

1. j FirstTrade - They use BMO Harris Bank as their custodial bank, which joined StopHateForProfit. BMO Harris Bank is middle of the road as far as political donations, slightly favoring Republicans.

 

MAJOR BANK ALTERNATIVES:

1. For banking/checking, you can use a credit union or any regional bank that is apolitical and not privately owned, ala Stanford Financial.

 

2. fist Commerica Bank is not perfect, but it may be the least offensive larger bank.

 

 

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