MyPillow CEO Mike Lindell has revealed that his bank has canceled his line of credit.
Lindell revealed the de-banking effort during an appearance on Steve Bannon’s podcast.
He announced that the bank that was providing him with a line of credit had cut him off.
He said that he believes efforts by financial institutions to shut him down are a response to his election integrity crusade.
Lindell expressed concern for his employees, however.
He said that the stresses on his company’s finances mean his employees “have to sit and worry every day” about losing their jobs if the company goes under.
Last year, Mike Lindell was terminated as a client by the Minnesota Bank & Trust.
The move came a month after the financial institution described him as a “reputation risk.”
Business Insider viewed two letters sent to Lindell by the bank dated February 11.
In one letter, the bank said Lindell’s accounts with the bank would be closed by the end of business on February 18.
“Any remaining collected balance in the account scheduled to be closed will be mailed to the address we have on file,” the letter said.
“Alternatively, before February 18, 2022, you may transfer, using online banking, the remaining balance directly to your other banking institutions.”
Lindell told Insider he had nine accounts at the bank and none were related to his main MyPillow business.
He said one account at the bank was connected to his website Frank Speech and another was linked to the Lindell Recovery Network, the pillow CEO’s platform for people with addiction.
Lindell told Insider he was “disgusted” by the bank and accused it of “de-banking” and “canceling” him.
“They just said, ‘Mike Lindell’s in the public eye, and we don’t want to be part of the news.’ And now they’re in the news, aren’t they?” Lindell told Insider.
“They are evil for canceling us.”
Lindell added that he thought “someone” had “gotten to” the bank and motivated it to terminate its relationship with him.
“I’ve been in the news every day for a long time now,” Lindell said.
He added that he thought the bank was trying to “destroy” him and Frank Speech, his conservative broadcast network.
“They just want to attack Mike Lindell and close his accounts,” he said.
“That’s what I think.”