A Christian law firm recently praised JPMorgan Chase for retracting a controversial policy that led to the de-banking of several conservative individuals and nonprofit organizations. The policy required merchants using the WePay service to refrain from accepting payments or engaging in activities related to “social risk issues,” such as hate groups, systemic racism, sexual harassment, and corporate culture. The Alliance for Defending Freedom (ADF) discovered that the language had been removed from the company’s terms of service, leading to positive feedback from ADF senior counsel Jeremy Tedesco.
Tedesco highlighted the importance of this change, noting that millions of people could have faced denial or loss of payment processing services due to the discriminatory policy. He emphasized the significance of companies like JPMorgan Chase committing to not discriminate against individuals based on their religious or political views. In previous incidents, Chase and other major banks have terminated the accounts of organizations and individuals without providing sufficient explanations, causing concerns among conservatives.
In 2022, Chase closed the account of the National Committee for Religious Freedom and terminated former U.S. Ambassador Sam Brownback’s National Committee for Religious Freedom account without clear reasons. Chase also denied ticket-payment processing for a Republican event hosted by a nonprofit organization, Defense of Liberty, citing policies against hate, racial intolerance, or activities promoting discrimination. However, the bank reversed its decision after facing backlash from Missouri State Treasurer Scott Fitzpatrick for what he perceived as ideological discrimination.
To promote freedom of speech and encourage private companies to uphold this value, ADF launched a Business Index that evaluates companies based on their policies. Over 90% of businesses on the index reportedly incorporate divisive concepts like Critical Race Theory in their employee training materials. A significant portion of employees surveyed expressed concerns about feeling less united, trusted, or included at work if they were told they were complicit in racism or oppression based on their characteristics.
Amidst these developments, Chase’s policy rollback aligns with a recent warning issued by 15 state financial officers to Bank of America regarding its alleged practices of “politicized de-banking” targeting conservatives. The situation reflects ongoing concerns among individuals and organizations regarding potential discrimination and censorship by financial institutions based on their beliefs. ADF continues to monitor and evaluate companies’ policies to ensure they respect individuals’ rights to free speech and fair treatment regardless of their political or religious views.
Overall, the changes in JPMorgan Chase’s policy represent a positive step towards ensuring equal treatment and access for individuals and organizations with diverse beliefs and ideologies. The ongoing efforts of organizations like ADF to hold companies accountable for discriminatory practices and promote free speech are crucial in maintaining a democratic and inclusive society where all individuals can express their opinions without fear of discrimination or censorship.
