Chip Carney

Dear Secretary Bessent @SecScottBessent, On October 14th I wrote to you about Bank of America @BankofAmerica. You did not answer. 3.6 million Americans did. I want to tell you what that looked like from where I sit, because I do not think Washington understands it yet. The messages did not come from one side. They came from Republicans and Democrats, from veterans and nurses and small business owners, from people who have not agreed with each other about anything in a decade. They all said a version of the same sentence. We have had enough. That is what a national security issue looks like when it finally breaks through. It does not pick a party. It belongs to everyone who has a kid, a bank account, or a flag on the porch. So let me be plain about my concern. I am worried that nothing is going to happen. The fine has been announced. The press cycle is already turning. In a few weeks the number will be forgotten and the bank will be back to business. I have watched this exact sequence play out before, and I am writing to you now, while there is still a window, because once that window closes it does not reopen. I am also widening this letter, because Treasury does not act alone. To the Department of Justice @TheJusticeDept and to FBI Director Kash Patel @FBIDirectorKash: Director Patel, you were not in the chair when this happened, so I want you to hear it from me directly. In 2011 I walked into the FBI with everything I had on HSBC. Not a tip. Boxes. Names, account numbers, transaction records, internal emails. Agents worked that evidence for over a year. I trusted them, and I still believe they wanted to do their jobs. Then the settlement was announced. $1.9 billion. I called the agents and asked the only question that mattered. When do you raid the building and when are the arrests? Their answer was four words. Our hands are tied. I have thought about those four words every day since. Not because the agents failed me. Because somebody above them decided that a bank was too important to treat like a defendant. That decision was made quietly, by people whose names I will never know, and it has been made again every time since. Director Patel, you now have the authority to make a different one. I remember the words carved into the stone outside the federal building in Philadelphia the day I walked in to report @HSBC: justice is the defense of our liberty. I believed that. I still want to. But a justice system that handcuffs a dealer on the corner and sends a bank a bill is not defending anyone’s liberty. It is choosing whose liberty counts. To Brian Moynihan, Chief Executive Officer of Bank of America @BankofAmerica: Mr. Moynihan, your bank just agreed to pay $1.2 billion for failures that regulators called willful. I have a few questions, and the 3.6 million people reading this would like the answers too. Who was fired? Not reassigned. Not retired early with a package. Fired, by name, for the conduct the government described. What has actually changed in your anti money laundering program? Not the budget line. Not the consultant’s slide deck. What is different today about how an alert gets cleared and who is allowed to say stop? Were there any consequences inside the building at all? Or did this land the way it landed at HSBC bank, as a line item? And how much is your bonus this year? I ask because I know what it costs a compliance officer to raise his hand inside a bank like yours. I would like to know what it cost anyone at the top. Do you even care? I am asking sincerely. I would like to be wrong. Here is what I did about all of this, and why it matters to this letter. After the government declined to help me or any of the whistleblowers I have met since, I built the thing I wished had existed. Tactical Rabbit is a private intelligence agency. We find the truth, we prove it, and we put it in the hands of people who will act on it. I made a decision a long time ago that if the government would not stop the next HSBC, I would. So to anyone inside a bank reading this who is looking at something they know is wrong: if your bank will not act, and the government will not act, come to me. I will get the truth to the public. That is not a threat. It is a promise I have already kept once. Mr. Secretary, Director Patel, the Department of Justice, and Mr. Moynihan: four addresses, one question. Will anyone be held accountable? Not fined. Not suspended. Not asked to attend training. Accountable. Please end the cycle of too big to jail. I will not stop until there is change, and neither will the millions of Americans standing behind this letter. Answer them. We need a banker in jail. Everett A. Stern HSBC Whistleblower Founder, Tactical Rabbit