In 2022, JPMorgan Chase canceled the account of the National Committee for Religious Freedom (NCRF) without explanation. This group, aimed at protecting the freedom of religion in America, faced multiple conflicting reasons from Chase employees. CEO Jamie Dimon’s justification during a shareholder meeting was met with skepticism. NCRF has since launched a campaign to gather stories from others similarly affected by debanking, revealing a trend where conservative or religious groups face discrimination by major financial institutions, even as their finances remain intact.
The issue of debanking highlights a troubling trend where financial institutions cancel accounts without clear justification, often targeting conservative or religious organizations.
NCRF's experience with JPMorgan Chase illustrates a growing pattern of financial discrimination, forcing victims to seek alternative means of financial support.
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