JPMorgan CEO Jamie Dimon has denied that customers cancel banking services based on their religious or political affiliation, and stated that he has already been working to change the rules surrounding cancellation of banking services for more than a decade.
During an interview with Fox News Channel’s “Sunday Morning Futures” on Sunday, Damon said He said His bank cut off services to people from all walks of life, but political affiliations were never a factor.
Devin Nunes, Chairman of the Presidential Intelligence Advisory Board and CEO of Trump Media, Allegedly The company was broken up by JP Morgan and was among more than 400 individuals and organizations linked to Trump with banking records subpoenaed by special counsel Jack Smith as part of the investigation.
Jack Muellers, CEO of Bitcoin payments company Lightning Network also strikes He accused JP Morgan of closing his personal accounts Without clarification last month, raising concerns about another Operation Chokepoint 2.0.
Houston Morgan, head of marketing at non-custodial cryptocurrency trading platform ShapeShift, shared a similar story in November.
“People have to grow up here, okay, and stop making stuff up and stuff like that,” Damon said. “I cannot speak for an individual account. We do not deprive people of their bank accounts because of their religious or political affiliations.
“We’re banking them. They have religious or political affiliations. We’re banking people who are Democrats. We’re banking people who are different religious people. It was never for that reason.”
Dimon said he wants to change the rules for dealing with banks
It was crypto companies Facing account closures and being denied banking services for yearsMany in the industry have stated that these measures are part of a policy-driven effort to suppress the digital assets sector.
However, Dimon said he doesn’t like being banked and wants to change the rules around reporting requirements that being banked can lead to.
“I actually applaud the Trump administration, which is trying to say that banking is bad and we should change the rules. Well, damn it, I’ve been calling for the rules to be changed now for 15 years. So, change the rules.”
“It’s really customer unfriendly, and we’re taking away banking from people because of shady things, or negative media, or all these different things,” Dimon added.
In August, US President Donald Trump I fell Executive order Directing the banking regulatory authorities to investigate Banking devaluation claims made by crypto sector and conservatives.
JP Morgan made recommendations to limit bank exposure: Dimon
Dimon said one rule banks have to follow is to share information with the government when subpoenaed, but he also claims JPMorgan has made recommendations to limit reporting and instances of banking cancellations.
Related to: Republicans urge action on market structure bill on bank breakup claims
“We don’t give information to the government just because they ask for it,” Dimon said. “We’ve been subpoenaed. The court asks us to give it to the government. And I’ve been following the subpoenas with this administration, the last administration, the administration before that and the administration before that. And I don’t agree with a lot of them.”
“The government does a lot of things that can make banks angry. So, let’s take a deep breath and fix the problems, instead of blaming someone who is put in this situation,” he added.
Meanwhile, Dimon said both political sides are equally culpable when it comes to relying on banks.
“We have been hounded by Democratic and Republican governments; let’s not act like this is just one side doing this. This has been going on for too long. We must stop militarizing government in this way.”
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