J.P. Morgan Chase Chief Denies Debanking Conservatives

JPMorgan Chase Chairman and CEO Jamie Dimon is interviewed on the floor of the New York Stock Exchange Friday, July 12, 2013. (AP Photo/Richard Drew)
AP Photo/Richard Drew
JOHN CARNEY

J.P. Morgan Chase chief Jamie Dimon on Tuesday denied claims that the bank had “debanked” conservatives because of their political views.

“Very directly, we have not and do not debank people because of their political views. We have not and do not. And we debank people ’cause they’re DSA, AML, KYC, or unable to meet regulation — regulatory-type of requirements for them,” Dimon said in Chicago at the bank’s annual shareholder meeting.

Dimon made the statement in answer to a question from David Almasi, president of the shareholder activist group called the National Center for Public Policy Research.

J.P. Morgan Chase has withdrawn service from a number of conservatives and businesses run by conservative activists and journalists in recent months, Breitbart News has reported. Those allegedly debanked include Martina Markota, a video host for the conservative news website Rebel Media; Army combat veteran and purple heart recipient Joe Biggs; and Enrique Tarrio, the American of African and Cuban descent and leader of the right-wing Proud Boys organization. Almasi also cited activist Laura Loomer as a debanked conservative.

“Conservative activists Enrique Tarrio, Joe Biggs, Laura Loomer, and Martina Markota all found accounts they had with Chase Bank cancelled in the space of just a few weeks this past January and February. They say they don’t know why,” Almasi said during the question and answer session at the shareholder meeting.

The reports of the J.P. Morgan Chase debanking come amid a rising in financial blacklisting by banks, insurance companies, payment processors and credit card companies against conservatives, gun rights activists, and businesses targeted by left-wing activists.

“I know you cannot speak about personal banking matters, but can you — as chairman and CEO, on the record and before your investors — pledge that J.P. Morgan Chase and Co. is not debanking people or will not debank people because of their politics?” Almasi asked. “Or, if you are, will you pledge to end this practice so conservatives like me don’t have to worry about becoming ‘unpersons’ like in the book 1984?”

Almasi presented a copy of George Orwell’s 1984 to Dimon.

“It’s chilling that conservatives are at risk of losing financial standing because of their beliefs,” said Almasi. “I brought Dimon a copy of 1984 so he and the J.P. Morgan Chase leadership could brush up on the specter of Big Brother and making someone an ‘unperson,’” Almasi said.

 

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