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JPMorgan Chase, The biggest bank in the US, flip-flops after accusing Missouri conservative group of illegal activities - is JPMorgan in a panic over

Emily

Emily

Editor, Senior Moderator
https://missouriindependent.com/2021...rvative-group/
Donald Trump Jr. event canceled after Chase bank ends deal with Missouri conservative group
Event in St. Charles with ex-president’s son, expected to draw 3,000, in limbo after company reverses course

By: Rudi Keller - November 17, 2021 4:44 pm

The biggest bank in the United States is walking back its refusal to do business with a Missouri conservative group that forced cancellation of an event next month featuring Donald Trump Jr.

The Defense of Liberty PAC hired WePay, a payment processor owned by JPMorgan Chase, for the Dec. 3 event at the St. Charles Convention Center, the group’s founder, former state Rep. Paul Curtman, said Wednesday.

On Nov. 9, the company notified Curtman that it had canceled the contract, refunded the $30,000 already paid for tickets and would not do business with the group in the future.

The message cited an entry placed under the general heading of “Illegal” in the WePay list of prohibited activities.

“It seems you’re using WePay Payments for one or more of the activities prohibited by our terms of service,” a copy of the message, forwarded to The Independent, states. “More specifically: Per our terms of service, we are unable to process for hate, violence, racial intolerance, terrorism, the financial exploitation of a crime, or items or activities that encourage, promote, facilitate, or instruct others regarding the same.”

On Wednesday night, after The Independent reported that the event was canceled and the reason, a spokesperson for JPMorgan Chase wrote in an email that the decision had been a mistake.

“After further review, we determined that this organization didn’t violate the terms of service, and we are reaching out to the client to discuss reinstating the account,” the statement read. “To be clear, we have never and would never close an account due to a client’s political affiliation.”...
Click to expand...

I'm suspecting Dimon is in panic mode again, so overdid obsequiousness to the current administration, then realized there was a potential for defamation issues. Heaven help these bankers if they had to have a solvent business model all on their own.

https://www.nbcnews.com/business/eco...ld-be-n1280302

Debt ceiling default would be 'potentially catastrophic,' warns JPMorgan Chase CEO Jamie Dimon

“This is like the third time we’ve had to do this,” said the head of the country's largest lender.
 
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