JPMorgan CEO Jamie Dimon has refuted claims that the bank debanks customers based on their political or religious beliefs, asserting that he has been advocating for changes in debanking policies for over ten years. In a recent Fox News interview, Dimon explained that the bank has severed ties with clients from various backgrounds, but political affiliations have never influenced these decisions. Devin Nunes, chair of the president’s intelligence advisory board, accused JPMorgan of debanking Trump-related entities, while Jack Mallers, CEO of Strike, reported unexplained account closures. Dimon emphasized that debanking is not a practice he supports and criticized the current reporting requirements that lead to such actions. He noted that banks are compelled to comply with subpoenas, which can create tension with the government. Dimon called for a collaborative approach to address these issues, acknowledging that both political parties exert pressure on banks regarding their operations.
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