JPMorgan is “persistently” discriminating against its own clients and closing bank accounts without warning, according to Republican attorneys general from 19 states.
The law enforcement officials, led by Kentucky Attorney General Daniel Cameron, sent a letter to JPMorgan CEO Jamie Dimon stating that the banking giant’s practices go against the company’s own policies on equality.
The letter, which has now been published by the Wall Street Journal, states that JPMorgan has repeatedly discriminated against customers based on their religious or political beliefs.
“It is clear that JPMorgan Chase & Co. (Chase) has persistently discriminated against certain customers due to their religious or political affiliation. This discrimination is unacceptable. Chase must stop such behavior and align its business practices with the anti-discrimination policies that Chase proclaims.”
The attorneys general cite the sudden account closure of a religious liberty organization as an example of the bank’s discriminatory practices.
In May 2022, Chase abruptly closed the National Committee for Religious Freedom’s (NCRF) checking account. NCRF is a ‘nonpartisan, faith-based nonprofit organization dedicated to defending the right of everyone in America to live one’s faith freely.’ NCRF’s National Advisory Board includes Christian, Hindu, Jewish, and Muslim members…
When NCRF inquired about the reason Chase closed the account, multiple bank employees stated that the decision came from the ‘corporate office.’ Specifically, NCRF’s executive director ‘was informed that ‘a note in the file read that Chase employees were not permitted to provide any further clarifying information to the customer.’’
The attorneys general also say Chase has refused to accept proposals that would demonstrate its commitment to openness and inclusivity.
They are calling on the bank to publicly disclose its internal policies on account closures.
“To be clear, banks generally have the right to conduct their business however and with whomever they choose. But a bank does not have the right to mislead its customers.
Chase cannot call itself ‘inclusive,’ publicize that it ‘opposes discrimination in any form,’ promise to ‘prevent discrimination’ against customers, and then refuse to commit to the most basic equality of treatment and fair dealing.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney