EddieJayonCrypto
23 Jan 25
President Trump criticized Bank of America and JPMorgan Chase at the World Economic Forum, accusing them of denying services to conservative customers based on their political beliefs. He urged the CEOs to open their banks to conservatives. The banks have faced allegations of terminating accounts ov...
President Trump criticized Bank of America and JPMorgan Chase at the World Economic Forum, accusing them of denying services to conservative customers based on their political beliefs. Allegations of account closures based on customers' political and religious views by Bank of America and JPMorgan Chase face denial and legal responses.
In a virtual question-and-answer session at the World Economic Forum, Trump urged the CEOs to open their banks to conservatives, insisting that they allow conservative-leaning citizens to open and maintain bank accounts. The banks have faced allegations of terminating accounts over customers' political and religious views, which they have denied, attributing closures to risk assessments, compliance requirements, or policy violations.
In April of last year, 15 Republican state attorneys general alleged Bank of America terminated accounts over customers’ religious and political views. In May of 2023, 19 Republican state attorneys general claimed Chase has “persistently discriminated” against customers due to their religious or political affiliation. Both banks have denied the allegations in various public and legal responses, stating account closures are based on normal risk assessments, compliance requirements, or violations of internal policies.