JP Morgan accused of religious bias by 19 Republican Attorneys General

Nineteen Republican Attorneys General have accused JPMorgan Chase of religious discrimination over its banking practices. according to the letter State officials were dispatched to CEO Jamie Dimon earlier this month.

The group, led by Kentucky AG’s Daniel Cameron, alleges the bank “continued to discriminate against certain customers because of their religious or political affiliation.”

Over the past several years, the New York City-based bank has discriminated against three faith-based groups, including the National Commission on Religious Freedom, the AGs argued.

The bank abruptly closed the group’s checking account in May 2022, but the NCRF explained the group’s list of donors, the list of political candidates it endorsed, and the criteria for determining its endorsement. to the bank, it said it would only resume. argued AG et al.

The group is “a non-partisan faith-based non-profit organization dedicated to defending the right of all Americans to live freely of their faith,” the AGs wrote, and the NCRF’s National Advisory Board. He pointed out that the group includes Christian, Hindu, Jewish and Muslim members.

“The bank’s brash attempt to provide customers with material terms of service passes an unspecified religious or political litmus test and is contrary to Chase’s anti-discrimination policy,” the auditor said. wrote. “Worse still, it goes against basic American values ​​of fairness and equality.”

The group also claimed that in 2021, the bank’s credit card processing company closed an account with conservative group Family Council, labeling it “high risk.”

The bank’s payment platform, WePay, also refused to serve freedom groups in 2021 after conservative groups tried to use it to process tickets for Donald Trump Jr.’s events, the AG said. wrote.

According to AG et al., WePay believes the organization is a “hate, violence, racial intolerance, [and] terrorism. “

Eventually the bank reversed the decision The AG and others said it was under pressure from Missouri state treasurers.

The letter was signed by Cameron and Republican attorneys general from Alabama, Alaska, Arkansas, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Montana, South Carolina, Texas, Utah, Virginia, and the West. bottom. Virginia.

JP Morgan denied the allegations in a letter.

“We have never, and never will, terminate relationships with clients based on their political or religious affiliation,” JPMorgan spokeswoman Trish Wexler said in a statement to Banking Dive. “We serve 50,000 religious nonprofits nationwide, including approximately 80 million consumers and 5.7 million small business customers. It’s inconsistent with our business model of serving Americans of any political or religious affiliation.”

The attorney general said the bank refused to participate in an investigation that it claimed would outline its position on certain social and religious issues.

According to AGs, the Viewpoint Diversity Score Business Index is “the first comprehensive benchmark designed to measure a company’s respect for religious and ideological diversity in markets, workplaces and public squares.”

AG and others accused the firm of double standards, pointing out that JP Morgan boasted of its top score on the Human Rights Campaign’s Corporate Equality Index.

“Chase submitted information in response to the 2022 Corporate Equality Index and confirmed the bank’s ‘unwavering commitment to members of the LGBT+ community’ when speaking about the index,” the AG et al. “Clearly, Mr. Chase does not have the same steadfast commitment to conservatives and religious groups like the NCRF.”

Here is the state legislative letter: a similar letter 14 state treasurers were dispatched Dimon A similar charge was filed against the bank in March.

bank with notice

The State AG letter is the latest attempt by Kentucky officials to warn banks.

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