19 Republican states accuse JPMorgan of closing financial institution accounts and discriminating towards prospects attributable to their non secular or political views

• 19 Republican states accused JPMorgan of closing financial institution accounts on political or non secular grounds.
• In a letter to CEO Jamie Dimon, they are saying the financial institution requested questions on faith and politics.

Republican attorneys basic from 19 states have accused JPMorgan Chase of closing accounts and discriminating towards prospects attributable to their political or non secular beliefs, a report says.

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 main organizations’ checking accounts and had requested screening questions centered on faith and politics earlier than reinstating them.

The attorneys basic stated JPMorgan “abruptly closed” the checking account of the Nationwide Committee for Spiritual Freedom (NCRF), a non-profit, earlier than a letter informing it in regards to the choice had been delivered.

The grievance stated that an worker on the financial institution finally informed the group that JPMorgan would restore the NCRF’s account if it offered a listing of its donors, a listing of the political candidates it supposed to help, and particulars of the factors used to find out its help and endorsements.

“The financial institution’s brazen try to situation important providers on a buyer spending some unarticulated non secular or political litmus check flies within the face of Chase’s antidiscrimination insurance policies. Worse, it flies within the face of primary 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 Republican states additionally wrote to Dimon with related claims, The Journal reported.

JPMorgan was additionally accused of declining a proposal to take part in a survey for the Viewpoint Variety Rating Enterprise Index, which measured an organization’s respect for “freedom of expression and freedom of faith or perception as an ordinary a part of doing enterprise,” per its web site. JPMorgan acquired a rating of 15% for the index in 2022.

Additional, the letter claimed JPMorgan requested the Securities and Trade Fee to disregard a proposal for the financial institution to reveal its coverage for closing accounts.

A JPMorgan consultant informed The Journal: “We now have by no means and would by no means exit a shopper relationship attributable to their political or non secular affiliation.”

A spokesperson for JPMorgan stated: “We don’t shut accounts attributable to non secular or political affiliations, and didn’t in these circumstances.”