- The Minnesota Bank & Trust is terminating its business relationship with MyPillow CEO Mike Lindell.
- Insider obtained documents advising Lindell that his accounts would be closed February 18.
- A month earlier, the bank called Lindell a "reputation risk" in a talk with the pillow CEO's staff.
MyPillow CEO Mike Lindell has been terminated as a client by the Minnesota Bank & Trust
a month after the financial institution described him as a "reputation risk."
nsider 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. Alternatively, before February 18, 2022, you may transfer, using online banking, the remaining balance directly to your other banking institutions," the letter said.
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."