JPMorgan Chase has heard the concerns from its customers about its policies regarding debanking, a practice of closing accounts of clients based on their political and/or religious beliefs. The group leading the charge was Alliance Defending Freedom (ADF), who secured from JPMorgan a promise to stop the debanking policy and assure that, in the future, the company honors the 1st Amendment rights of its customers.
ADF responded to the pledge by stating “No American should have to worry that their bank will punish or cancel them for their views. We have a long way to go in our efforts to guard against this threat, but the win at Chase is a timely reminder that while we may attempt great things for God, we can also expect great things from God.”
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Excerpt from catholicvote.org
CV NEWS FEED // JPMorgan Chase has committed to honoring the free speech rights and religious liberty of its customers after legal nonprofit Alliance Defending Freedom spearheaded a campaign to protect bank accounts from religiously or politically motivated de-banking.
CatholicVote previously reported that over the last few years, Chase has on several occasions closed the bank accounts of religious organizations without warning. On at least one occasion, Chase demanded confidential internal information from a national religious organization in order to reopen the account.
To fight “de-banking,” Alliance Defending Freedom (ADF) began a campaign that included developing the “Viewpoint Diversity Score Business Index” to measure companies’ respect for free speech and religious freedom.
ADF also began meeting with Chase leadership, additionally gathering support from 19 state attorneys general and 14 state financial officers, who wrote to Chase expressing their concerns about de-banking.
“Our goal was to bring about meaningful change at Chase. And by God’s grace, we did,” ADF stated in a June 11 news release.
ADF continued:
By the fall of 2023, Chase’s payment processor WePay removed its problematic “social risk” policy, which had banned “hate” and “intolerance” and [had] been applied against conservative groups in the past.
