Lightning network is a 3rd party offchain payment system
Would you care to name this supposed third party?
LOL, LN Hub operators.
Serious how did you not know that?
Guess it won't be apparent to you even when the LN Hub is Named Bank of America.
What can a "Bank of America" hub exactly do to Bitcoin if they become a Lightning Hub? Nothing. They can also do nothing on the Lightning Network itself because Bitcoins are locked in a multisig address when opening a channel. What it can do is build on top of Lightning and do anything they like but only from within their service.