JPMorgan denied it debanked former Kansas governor Sam Brownback over

JPMorgan denied it debanked former Kansas governor Sam Brownback over

JPMorgan Chase denied claims that it “debanked” former Kansas Gov. Sam Brownback over his conservative and spiritual views, according to a report Thursday.

The financial institution said it didn’t obtain data it had requested from Brownback before it closed the account, according to an October 2022 letter considered by Reuters.

Brownback, a Republican who chairs the National Committee for Religious Freedom, has accused JPMorgan of shuttering the account in 2022 on non secular grounds.

Sam Brownback at a National Day of Prayer event. Jason Alatidd/Topeka Capital-Journal / USA TODAY NETWORK

He alleged the nation’s largest financial institution refuses enterprise to conservatives and spiritual teams.

“We don’t discontinue client relationships because of a religious or political affiliation, and we didn’t with your account,” Larry Thode, a managing director at JPMorgan, wrote in a beforehand unreported letter from October 2022.

“The information your organization gave to us at account opening triggered our request for additional information. That had nothing to do with any religious affiliation.”

He added that the financial institution didn’t receive the required data before the account was closed because its workers had been unable to attach with Brownback’s workers.

“The most suspicious thing about our case is that even after their October 2022 letter Chase continued to change their rationale for closing our account,” Brownback told The Post in an announcement.

A spokesperson for Brownback said the financial institution still has not addressed why the account was closed just three weeks after opening, and that the group was not given 60 days to answer the financial institution’s inquiries.

“The regulatory and supervisory environment governing banking – including our AML [anti-money laundering] regime – is in immediate need of reform, and we look forward to supporting this Administration to do that,” a JPMorgan spokesperson told The Post.

The spokesperson added that Brownback’s claims that the financial institution has not addressed the rationale behind the account closure are “patently false. The Senator is fully aware of why his accounts were closed.”

Thode didn’t instantly reply to The Post’s request for remark.

JPMorgan Chase said it didn’t obtain data it had requested before it closed the account, according to a letter. Christopher Sadowski

Meanwhile, President Trump signed an government order Thursday that will slap banks that discriminate against conservatives with fines and other penalties.

It will also retroactively goal monetary establishments that have closed accounts on political or non secular grounds within the past.

“President Trump is addressing unfair banking practices and protecting the American people from being denied access to financial services due to their political party or religious beliefs,” White House spokesperson Harrison Fields told The Post.

Earlier this week, Trump claimed that JPMorgan, Bank of America and other banks “discriminated against me very badly” once they refused to simply accept more than $1 billion of his deposits.

President Trump is poised to crack down on debanking practices in an government order Thursday. REUTERS

For months, the president has railed against debanking practices.

He blasted Bank of America CEO Brian Moynihan earlier this yr, who he said “was kissing my ass when I was president” however wouldn’t settle for the deposits after his first time period ended.

Brownback alleged JPMorgan abruptly shuttered the non secular committee’s account in 2022.

“When I tried to deposit a donation at a local Chase branch, I was informed the bank had closed our account — without giving me any reason why,” Brownback wrote in an op-ed for The Post earlier this yr.

“Over the course of the next year, a stream of Chase employees offered up no fewer than four conflicting explanations for why it had canceled our account,” he added.

Banks are required to hold out due diligence under anti-money laundering applications, including particular pointers for charities and non-profit organizations, just like the National Committee for Religious Freedom.

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