Shareholders Say JPMorgan Chase Has ‘Disturbing Trend’ of Political Bias

The Epoch Times Header

SEC green-lights vote to audit bank’s actions against conservative, religious customers

Investors who are fighting the politicization of America’s banks scored a rare win last week with a Securities and Exchange Commission (SEC) ruling that allowed a shareholder proposal in favor of political and religious diversity at JPMorgan Chase to go forward, despite the bank’s objections.

On March 29, the SEC green-lighted a shareholder proposal that would direct the bank’s board to investigate what some say is a “disturbing trend of politicized debanking” at the bank. These shareholders argue that JPMorgan Chase has systematically discriminated against customers because of their political or religious beliefs, and taken steps toward implementing personal social credit scores in America.

The proposal, submitted by the Bahnsen Family Trust, will go to a shareholder vote at the company’s annual meeting on May 16.

“I think we made a compelling case that no American should have to worry about having their bank account closed or payment denied based on their political or religious beliefs,” Michael Ross, an attorney with Alliance Defending Freedom (ADF), told The Epoch Times. The ADF represented the Bahnsen Family Trust’s proposal at the SEC hearing.

“JPMorgan Chase has shown a disturbing pattern of doing that, and so the SEC said: ‘Look, JPMorgan Chase, you need to answer to your shareholders for this; this has to go up for a vote. They’re asking for more transparency on this and you owe it to your shareholders to give it to them,’” Ross said.

JPMorgan Chase has been the subject of a number of accusations that it is engaging in cancel-culture against conservative and religious customers. This includes the “Statement on Debanking and Free Speech,” signed in November 2022 by 60 financial professionals. That document alleges that banks including JP Morgan Chase attempted to punish account holders with mainstream political beliefs. It claims the bank refused to process payments for a GOP-aligned organization and closed accounts of the National Committee for Religious Freedom without explanation, demanding that the nonprofit disclose its donors and which political candidates it intends to support as a condition of resuming service.

By Kevin Stocklin

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Columns

Viewers like you

There is no constitutional authority for any spending on public broadcasting – period. Any questions: See Article 1, Section 8 of the U.S. Constitution.

Beyond the Trump-Musk fallout?

We are witnessing an unprecedented, unhinged Democrat effort to use lawfare, big Democrat donors, street theater, congressional disruptions, potty-mouth videos, the administrative state, the legacy media, and discredited pollsters to stop the Trump agenda.

Trans-wormal

No worm ever said "I am anthropomorphizing, I am a butterfly" to a toad or flock of geese and expected acknowledgement and support.

In Greenland’s Icy Capital, Past Troubles Haunt Hopes for the Future

As geopolitical realities and ongoing economic growth raise the stakes, U.S. interest in Greenland and the dream of independence may change things in a big way.

How a Chinese Government Statistician Was Forced to Report Fake Data

Chinese local govt employee produced a non-authorized report on bees and was visited by police and threatened with being sent to a mental hospital.

News

Supreme Court Sides With DOGE in Social Security, Records Cases

The Supreme Court handed DOGE two big wins late on June 6 in its effort to reduce the size of the federal government.

Kilmar Abrego Garcia Returns to US to Face Criminal Charges

Kilmar Abrego Garcia, a citizen of El Salvador, is on his way back to the US, where he will face criminal charges for allegedly smuggling illegal immigrants.

White House Adviser Gives Update on DOGE’s Future Amid Musk–Trump Spat

A top White House adviser said DOGE’s work will likely continue amid a spat between its former chief, Elon Musk, and President Donald Trump.

Trump Administration Asks Supreme Court to Allow Dismantling of Education Department

Trump admin asked Supreme Court to allow it to resume dismantling U.S. Dept of Education, following a lower court’s previous order halting process.

FTC Warns of Rising Student Loan Scams, Says Fraudsters Took Millions From Borrowers

FTC is warning borrowers to steer clear of student loan debt-relief scams, after shutting down group of companies that allegedly charged millions in illegal fees and left customers worse off.

Walmart’s Drone Delivery Coming to 5 More US Cities

Walmart is set to launch its drone delivery service in five more U.S. cities: Atlanta, Charlotte, Houston, Orlando, and Tampa, the company.

Court Orders Trump Administration to Restore AmeriCorps Funding to States

Federal court ordered Trump admin to restore AmeriCorps funding to states. The ruling comes as part of a lawsuit filed by 24 states and DC.

Tax Deductions You Can Take Without Itemizing

It’s not always beneficial to itemize. With IRS’s current standard deduction for 2025 most Americans who can’t itemize go with standard deduction.
spot_img

Related Articles