Exclusive | Reagan movie producer claims company was debanked during filming of Republican icons biopic
That’s no way to treat The Gipper!The production company for the movie “Reagan” claims that Bank of America “debanked” its accounts while filming the biopic of 40th president and beloved Republican icon Ronald Reagan.RawHide Pictures confirmed to The Post that Bank of America canceled its banking services with RawHide without explanation during film production back in 2021, and provided a letter as evidence.RawHide Pictures said it had to scramble to move its accounts to JP Morgan Chase while appealing the bank’s decision to close its accounts, which were restored months later following an appeal.The bank denies it took part in any “debanking” but didn’t offer details about why it temporarily cut ties with the filmmakers.“Bank of America has recently completed a review of your relationship with the bank.As you are aware, your agreement with the bank allows either party to unilaterally exit the relationship at any time upon the required notice,” the Dec.
29, 2020 letter stated.“The bank has determined that it wishes to close your relationship (accounts and services) in accordance with the deadline outlined below.“On or after that date, we will not honor any withdrawals, fund transfers, checks or other transactions with respect to the account,” the bank added.“It is your responsibility to contact any company that makes electronic debits or credits to your account … Any checks or other funds transfer requests after the closure will be returned `account closed.'”The cancellation of services became effective Jan.
29, 2021, coinciding with Democrat Joe Biden’s inauguration as president.A publicist for RawHide Pictures said the alleged “debanking” caused “irreparable and significant harm” in the middle of film production.“I can confirm that the film’s account at Bank of America did indeed receive a letter ‘debanking’ us in late 2020 as we were in the middle of production,” RawHide spokesman Alfred Hopton said.“Ther...