President Donald Trump delivered an unexpected critique of Bank of America (BAC) CEO Brian Moynihan, accusing the executive of restricting business with conservative clients, Bloomberg’s Katherine Doherty reports. “I hope you start opening your bank to conservatives,” Trump remarked during a virtual Q&A at the World Economic Forum in Davos, Switzerland. “Because what you are doing is wrong.” The comment, which took Moynihan by surprise, elicited audible gasps from the audience, and in response, Moynihan pivoted the conversation to thank Trump for his efforts in securing the upcoming FIFA World Cup in the U.S., an event Bank of America is sponsoring. “We serve more than 70 million clients and we welcome conservatives. We are required to follow extensive government rules and regulations that sometimes result in decisions to exit client relationships,” a representative for Bank of America said in an emailed statement. “We never close accounts for political reasons and don’t have a political litmus test.” Trump also called out JPMorgan (JPM) CEO Jamie Dimon for the same alleged treatment of conservative customers.
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