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19 pink states accused JPMorgan of closing financial institution accounts for political or spiritual causes.
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In a letter to CEO Jamie Dimon, they are saying the financial institution requested questions on faith and politics.
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The attorneys normal wished JPMorgan to take part in a variety survey associated to free speech.
Republican attorneys normal from 19 states accused JPMorgan Chase of closing accounts and discriminating in opposition to purchasers due to their political or spiritual beliefs, based on a report.
In a letter despatched to JPMorgan CEO Jamie Dimon and reviewed by The Wall Road Journal, Republicans representing 19 states stated the financial institution had canceled checking accounts for main organizations and requested screening questions centered on faith. and coverage earlier than reinstating them.
Attorneys normal stated JPMorgan “abruptly closed” the checking account of the nonprofit Nationwide Committee for Non secular Liberty (NCRF) earlier than a letter was delivered informing it of the choice.
The criticism stated {that a} financial institution worker finally advised the group that JPMorgan would restore NCRF’s account if it supplied an inventory of its donors, an inventory of the political candidates it supposed to help, and particulars of the standards used to find out its help. and ensures.
“The financial institution’s brazen try and situation essential companies on a buyer passing an unarticulated spiritual or political litmus take a look at goes in opposition to Chase’s anti-discrimination insurance policies. Worse, it goes in opposition to fundamental American values of equity and equality. “, the signatories of the letter stated.
The letter was signed by Daniel Cameron of Kentucky and Steve Marshall of Alabama, and co-signed by their counterparts in states together with Florida, Georgia and Texas.
In March, treasurers from 14 pink states additionally wrote Dimon with comparable claims, The Journal reported.
JPMorgan was additionally accused of turning down a proposal to take part in a survey for Viewpoint’s Enterprise Range Rating Index, which measured an organization’s respect for “free speech and freedom of faith or perception as an ordinary a part of doing enterprise.” “, based on his web site. JPMorgan acquired a rating of 15% for the index in 2022.
Moreover, the letter claimed that JPMorgan requested the Securities and Trade Fee to disregard a proposal for the financial institution to reveal its account closure coverage.
A JPMorgan consultant advised The Journal: “We now have by no means, and can by no means, finish a relationship with a shopper due to their political or spiritual affiliation.”
A JPMorgan spokesperson stated: “We don’t shut accounts attributable to spiritual or political affiliations, and we didn’t in these instances.”
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