A group of 19 GOP state attorneys general are putting JPMorgan Chase on notice for alleged discrimination against religious and other conservative organizations, which contradicts the company’s commitment to ‘inclusivity,’ they say.
In a letter to JPMorgan Chase CEO Jamie Dimon Tuesday, the state attorneys general led by Daniel Cameron of Kentucky allege the company has ‘persistently discriminated’ against customers due to ‘religious or political affiliation.’
Chase claims that it opposes ‘discrimination in any form,’ yet the GOP state leaders allege it has repeatedly targeted religious liberty organizations by shutting down their checking accounts and refusing them other key banking services because of their political leanings, a practice now known as ‘de-banking.’
The attorneys general point to Chase’s alleged ‘de-banking’ of a religious liberty organization last year – the National Committee for Religious Freedom (NCRF) – with no clear explanation.
NCRF, which was founded by the former U.S. Ambassador-at-Large for International Religious Freedom Sam Brownback, is a known ‘multi-faith’ nonprofit.
Jamie Dimon, chief executive officer of JPMorgan Chase & Co, who said of the purchase of First Republic: ‘Our government invited us and others to step up, and we did’
A deal was announced earlier on Monday that allows for an orderly failure of First Republic, following the announcement that JPMorgan Chase purchased the bank
Brownback said in October that he was ‘stunned’ that the bank had closed NCRF’s checking account and wouldn’t provide a sufficient answer as to the reasons behind the closure.
According to the letter, eventually a Chase employee contacted NCRF saying the bank would restore the account, but only if the organization provided a list of their donors, a list of political candidates it intended to support and reasoning behind the endorsements.
‘The bank’s brazen attempt to condition critical services on a customer passing some unarticulated religious or political litmus test flies in the face of Chase’s anti- discrimination policies. Worse, it flies in the face of basic American values of fairness and equality,’ the attorneys general say in the letter to Dimon.
In addition, there have been at least two other instances where Chase ‘has not extended its openness and inclusivity to everyone,’ the state AGs say.
Family Council, a pro-life group, had its account terminated from a credit card processor owned by Chase in 2021 after it was considered ‘High Risk’ by the company.
WePay, which is also owned by Chase, reportedly failed to provide ticket services for the Defense of Liberty organization, a conservative group, in 2021 because the event was showcasing Donald Trump Jr., the former president’s son.
That action prompted the Missouri state treasurer to threaten cutting off business with the bank and as a result of the pressure, Chase restored the organization’s account.
But the attorneys general say that although the bank reversed course, it has not taken steps to prevent the same issues from happening in the future.
‘And while the bank reversed past decisions that were based on such discriminatory judgments, Chase seemingly has made no institutional changes to prevent similar discrimination in the future.’
The state leaders say that if Chase starts participating in the survey component of the Viewpoint Diversity Score Business Index, it will be a ‘positive first step’ to stop its alleged discrimination.
The survey, which Chase has previously refused to participate in, is the ‘the first comprehensive benchmark designed to measure corporate respect for religious and ideological diversity in the market, workplace, and public square.’
A spokesperson for Chase previously said that the company would ‘never’ exit a client relationship based on political or religious preferences.
‘Of course, I’m not able to speak about confidential client matters. But what I can say is we have never and would never exit a client relationship due to their political or religious affiliation,’ said the spokesperson.
In addition, former Trump National Security Advisor Lt. Gen. Michael Flynn was notified recently that a family credit card was cancelled by the bank with no explanation.
‘Chase Bank has gone full blown woke!’ Flynn exclaimed in a statement. ‘They need to deal with their own reputation instead of persecuting my family and I. DOJ dropped my case for their own egregious government misconduct, appears you weren’t that lucky with the DOJ. I guess my America First political views don’t align with yours. Your loss.’
Flynn was pardoned by the former president after pleading guilty to making false statements to the FBI, and his case was dismissed by the Department of Justice in 2020.
Chase said that the cancellation of the Flynn card was made ‘in error.’
DailyMail.com reached out to Chase to provide a comment on the letter Tuesday.
The letter was signed by: Steve Marshall, Alabama; Treg Taylor, Alaska; Tim Griffin, Arkansas; Ashley Moody, Florida; Chris Carr, Georgia; Raúl Labrador, Idaho; Todd Rokita, Indiana; Brenna Bird, Iowa; Kris Kobach, Kansas; Daniel Cameron, Kentucky; Jeff Landry, Louisiana; Andrew Bailey, Mississippi; Austin Knudsen, Montana; Andrew Bailey, Missouri; Alan Wilson, South Carolina; Ken Paxton, Texas; Sean Reyes, Utah; Jason Miyares, Virginia; and Patrick Morrisey, West Virginia.
Will Hild, executive director of Consumers’ Research, cheered the move by the attorneys general.
‘I applaud these Attorneys General for putting banks like JP Morgan Chase on notice for ignoring their customers and catering to the woke political agendas. Individuals and organizations who have certain political or religious beliefs should not be stripped of their access to funds or barred from a financial institution. Actions like this put a spotlight on the clear political activism that these banks and corporations are engaging in,’ he told DailyMail.com.
Kentucky Attorney General Daniel Cameron is leading the charge against JP Morgan’s alleged discrimination
‘Companies should focus on their customers, not woke politicians, activists, or ESG elites like BlackRock CEO Larry Fink.’
BlackRock is another large investment company that has come under fire from conservatives who allege that it is putting commitments to diversity, equity and inclusion above shareholders’ interests.
The accusations by the state law enforcement officers come as JPMorgan is facing questions on its relationship with convicted sex predator Jeffrey Epstein.
A judge ruled Monday that the company could be held liable by the women who have accused Epstein if attorneys can prove that former bank executive Jes Staley knew Epstein was running a sex trafficking ring.
‘If the allegations in plaintiffs’ complaints are taken as true, Mr. Staley had actual first-hand knowledge that Epstein conducted a sex-trafficking venture,’ U.S. District Judge Jed Rakoff wrote.
In addition, on Monday JP Morgan announced it purchased First Republic Bank after its recent collapse.
Under the terms, JPMorgan Chase & Co will pay $10.6 billion to the U.S. Federal Deposit Insurance Corp (FDIC), which took First Republic into receivership, for most of the failed bank’s assets.
Shares of JPMorgan Chase rose 2.14 percent, making the largest U.S. bank the top gainer on the Dow Jones.
First Republic’s collapse is the third major casualty of the biggest crisis to hit the U.S. banking sector since 2008.