Republican lawyers general in 19 states have accused JPMorgan of “persistently” discriminating against its own customers and cancelling bank accounts without notice.
In a letter to JPMorgan CEO Jamie Dimon, law enforcement officers headed by Kentucky Attorney General Daniel Cameron said the bank’s principles on equality are at odds with its practises.
The Wall Street Journal has released a letter claiming that JPMorgan has often discriminated against clients because of their religion or politics.
Chase has been accused of discriminating against consumers on the basis of their religion or political beliefs. This kind of bias cannot be tolerated. Chase has to put a stop to this and make sure its rules and procedures don’t discriminate in any way, shape, or form.
The unexpected termination of an account belonging to a religious freedom group is cited as evidence of the bank’s discriminatory practices by the solicitors general.
A Chase bank account belonging to the National Committee for Religious Freedom (NCRF) was suddenly cancelled in May of 2022. NCRF is an “independent, nonprofit, religious organisation committed to protecting the constitutionally protected freedom of religion for all people in the United States.” There are Christians, Hindus, Jews, and Muslims on NCRF’s National Advisory Board.
Multiple Chase bank workers told NCRF that the decision to terminate the account originated in the bank’s “corporate office.” A notation in the file said that Chase staff were not allowed to disclose any more clarifying information to the client, and the executive director of NCRF was made aware of this.
The Attorney also claim that Chase has rejected initiatives to showcase the bank’s dedication to diversity and transparency.
They want the bank to be clear about its private account closing policy. “To be quite clear, financial institutions are free to do business with anybody they like. However, a financial institution may not intentionally deceive its clients.”
While claiming to be “inclusive,” “opposing discrimination in any form,” and “promising to prevent discrimination” against consumers, Chase is unable to hold to even the most fundamental principles of fair treatment and equality.
Also Read: Ripple CEO Brad Garlinghouse Discusses ‘Leaving Of Crypto Investment From The US’
Wallets