The founder and CEO of MyPillow told Insider on Friday that he was told to leave his bank.
Minnesota Bank & Trust and Heartland Financial USA told him they no longer wanted to do business with him.
One of the most vocal supporters of former President Donald Trump is a man who has already spent $25 million pushing the baseless voter fraud claims.
The pillow CEO's phone records were subpoenaed by the House Select Committee.
Minnesota Bank & Trust had concerns about this.
"But what if Tom Cardle, a senior vice president at Minnesota Bank & Trust, came in and said, 'we're going to subpoena all of his account records, and this and that,' and we made the news?'"
The bank's continued relationship with Lindell was referred to as a "reputation risk" by Cardle.
Insider asked Cardle if he was in the recordings, but he didn't reply. Insider verified that the phone number was associated with an office line.
The accounts are between bankers and their clients. The Minnesota Bank & Trust representative told Insider that the decisions about bank accounts would be left to the account holders.
"These guys have an agenda, there's something wrong, or they would have done something before," said Lindell, responding to the call. They would have done something a year ago. They would have done this on January 9 when I was at the White House, running around with papers from a lawyer that said "martial law."
The White House was photographed with notes about martial law on January 15.
"Why did they wait?" he asked. "We can't let everyone get de-banked in our country, there's something behind this."
The banks wanted to end their relationship with him because of the "First Amendment," according to the man.
The banks never had a problem with the cyber symposium. "They didn't have a problem last year when all the box stores canceled me," he said, referring to his 72 hour cyber symposium in South Dakota. Isn't this strange? Give me a break. These guys are repulsive.
The pillow executive said he wouldn't close the accounts.
I'm not closing my accounts. "They're going to have to throw me out, I think the banks are doing this because ofcancel culture."
Representatives for Heartland Financial USA did not respond to a request for comment.