‘Reagan’ movie producer claims company was – Business News
That’s no approach to deal with The Gipper!
The manufacturing company for the movie “Reagan” claims that Bank of America “debanked” its accounts whereas filming the biopic of fortieth president and beloved Republican icon Ronald Reagan.
RawHide Pictures confirmed to The Post that Bank of America canceled its banking companies with RawHide with out clarification during movie manufacturing back in 2021, and supplied a letter as proof.
Dennis Quad portraying President Ronald Reagan within the 2024 movie “Reagan.” Courtesy Everett Collection
RawHide Pictures mentioned it needed to scramble to maneuver its accounts to JP Morgan Chase whereas interesting the bank’s determination to close its accounts, which have been restored months later following an appeal.
The bank denies it took half in any “debanking” however didn’t offer particulars about why it briefly 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 acknowledged. “The bank has decided that it needs to close your relationship (accounts and companies) in accordance with the deadline outlined beneath.
“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.’”
RawHide Pictures claimed that Bank of America “debanked” its accounts whereas it was filming the Reagan biopic. Courtesy Everett Collection
The cancellation of companies grew to become efficient Jan. 29, 2021, coinciding with Democrat Joe Biden’s inauguration as president.
A publicist for RawHide Pictures mentioned the alleged “debanking” triggered “irreparable and significant harm” within the center of movie manufacturing.
“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 mentioned.
“There was no recourse offered, so in the middle of our production of the film we were forced to move our funds to Chase within the 30 days prescribed,” he added. “As you can imagine, such a disruption was a major problem for us that caused irreparable and significant harm.”
The RawHide rep added that regardless of the reinstatement the company has “no idea why it happened.”
“We are not a political entity but merely a film whose main character happened to spend part of his life in politics,” he mentioned. “We have not gone public with this matter until your inquiry, but this was one of many obstacles we faced in releasing our film.”
But Bank of America defended its motion and insisted it doesn’t have interaction in “debanking” as a result of of politics.
“We don’t close accounts for political or religious reasons as we have said,” a spokesperson mentioned. “The client has multiple active accounts with us, which doesn’t square with questions of debanking.”
“Reagan,” which stars Dennis Quaid within the title function because the actor-turned-politician, is getting a restricted re-release tied to America’s 250th anniversary, which incorporates 10 additional minutes that didn’t make the unique cut.
A RawHide Pictures publicist instructed The Post the alleged debanking triggered “irreparable and significant harm” to the manufacturing of “Reagan.” Courtesy Everett Collection
A wider re-release date, together with a director’s cut, is scheduled for Sept. 25 in 600 theaters.
The movie options Penelope Ann Miller as first girl Nancy Reagan, Jon Voight as a KGB agent and Mena Suvari as Jane Wyman, Reagan’s first spouse.
Meanwhile, President Trump has ordered federal probes of banks “debanking” prospects as a result of of their political opinions and “reputation risk,” claiming discrimination.
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The president himself was kicked out of banks after his supporters rioted at US Capitol on Jan. 6, 2021. He has personally sued JP Morgan Chase for allegedly debanking him and Bank of America is also within the crosshairs of federal investigators.
Reagan earned the nickname “the Gipper” for his first large function as an actor portraying gravely unwell soccer participant George Gipp within the 1940 movie basic “Knute Rockne, All American.” Gipp was in his hospital mattress, in line with legend, when he requested coach Knute Rockne to have the workforce, “Win just one for the Gipper.”
“Reagan” was awarded Best Western Film–Drama in 2025 — after the favored movie bought snubbed by the Academy of Motion Pictures for Best Picture.
The Reagan movie, which depicts the life and legacy of the fortieth president, was common with moviegoers however wasn’t up for consideration for Best Picture Oscar from the Academy of Motion Pictures.
Despite its lack of Oscars’ consideration, “Reagan” obtained at one level a glowing 98% viewers approval score on the film-scoring web site Rotten Tomatoes, though it additionally garnered a dismal 18% critics rating.
