Working in corporate engagement, I often hear questions about why the ‘long game’ matters in changing woke company policies. If executive orders can instantly push companies away from DEI or ESG initiatives, why take other pathways? The answer is clear: lasting change takes time. JPMorgan Chase, the nation’s largest bank, just proved this with a major policy shift — one that speaks louder than any theory ever could.
In 2022, JPMorgan Chase <a href="https://nypost.com/2025/03/10/opinion/i-was-debanked-by-jpmorgan-chase-but-fought-back-and-won/" target="_blank" rel="noopener">debanked</a> former U.S. Senator and Ambassador Sam Brownback, after Brownback opened an account for the newly-formed National Committee for Religious Freedom. The son of a Kansas farmer, Brownback refused to back down. When Brownback asked the bank for its rationale in shuttering his account, he was met with conflicting (and incorrect) explanations as to why.
Brownback’s debanking experience was the start of a major wave of scrutiny over exactly what conditions a bank will close a customer’s account. Victims range from nonprofit organizations like Indigenous Advance, an organization serving Ugandan widows &amp; orphans debanked by Bank of America in 2023, to Melania &amp; Barron Trump, who Melania <a href="https://oversight.house.gov/wp-content/uploads/2025/01/2025-01-24-Letter.pdf" target="_blank" rel="noopener">described</a> as having been debanked in her memoir, prompting further inquiry from the House Committee on Oversight.
Yet JPMorgan consistently ranked as one of the major bad actors in the debanking saga, closing not only Brownback’s account (and actually <a href="https://www.ag.ky.gov/Press%20Release%20Attachments/23.5.2%20Letter%20to%20Chase.pdf" target="_blank" rel="noopener">asked</a> for his org’s donor list for restoring service) but several other conservative nonprofits. The biggest bank in America was quickly racking up hits on its record of political neutrality and customer equality.
This trend might have gone unaddressed had the Right simply let the issue lie. Luckily, some of the most influential names in both the conservative legal, financial, and government worlds stepped up to the plate. Pressure for increased transparency and commitments to ditch any policies that could lead to a client being debanked for political reasons has come from all directions, from legal giants like <a href="https://adfmedia.org/press-release/19-states-chase-stop-misleading-customers-commit-equality-treatment/" target="_blank" rel="noopener">Alliance Defending Freedom</a> to <a href="https://www.viewpointdiversityscore.org/news/statement-on-debanking-and-free-speech" target="_blank" rel="noopener">notable financial professionals</a> to <a href="https://www.ag.ky.gov/Press%20Release%20Attachments/23.5.2%20Letter%20to%20Chase.pdf" target="_blank" rel="noopener">state financial officers and attorneys general</a>. As that public pressure mounted, shareholder pressure has been growing from the inside for the past three years, spurred on by organizations like the firm I work for, Bowyer Research, with Chase investors like financial advisor David Bahnsen spending literal years <a href="https://www.nationalreview.com/corner/bahnsen-takes-the-fight-today-to-jpmorgan-chase/" target="_blank" rel="noopener">urging</a> the company to clarify its approach to debanking — and fix its spotty track record on political neutrality.
And Chase listened.
In 2023, JPMorgan made the decision to axe its “social risk” policy from its payment processing arm, no longer allowing vague terms like “intolerance” and “hate” to determine whether a customer was fit to continue doing business at Chase. But the biggest win so far came several days ago, when Chase agreed to a policy change explicitly protecting customers and employees from discrimination based on religious or political views.
This is huge. Many stories about companies ditching woke policies consist of the company putting out a public statement (and often the controversy that follows). Statements are great, but they’re not the ideal. Companies can hide behind statements — and do. Several companies that have publicly made statements supporting political neutrality clearly have work to do when it comes to actually putting their policies where their mouths are.
But companies can’t hide behind policy changes. That’s why they’re a sign of both real progress and good faith. Shareholders like Bahnsen, and groups like ADF &amp; Bowyer Research, have been engaging with Chase for years to get this change. Make no mistake: Chase’s willingness to protect against future political/religious debanking is the result of real shareholders using real influence to create real change. It’s a victory for Chase’s customers and shareholders, but also for the company itself. It’s a win for a company to clear up concerns about corporate bias, a win that’s been a long time coming, and a win that hopefully many other banks will find instructive.
* * *
Isaac Willour is an award-winning journalist focusing on race, culture, and American conservatism, as well as a corporate relations analyst at Bowyer Research. His work has been featured at outlets including USA Today, The Wall Street Journal, The New York Times Opinion, C-SPAN, and The Daily Wire. He is a member of the Young Voices contributor program and can be found on X <a href="https://twitter.com/IsaacWillour" target="_blank" rel="noopener">@IsaacWillour</a>.
The views expressed in this piece are those of the author and do not necessarily represent those of The Daily Wire.

Major US Bank Bosses To Discuss Debanking With Senate Committee

Major Win: JPMorgan Chase Ends Political Debanking

Alliance Defending Freedom (ADF)

Banking

Banks

Bias

Censorship

Christians

Conservatives

Corporations

debanking

Jamie Dimon

JP Morgan

Opinion

Woke Culture

Bank of America, Citigroup, Morgan Stanley, Goldman Sachs and JPMorgan Chase have just abandoned the Net Zero Banking Alliance. While it seems to be yet another dire omen for so-called environment, social and corporate governance (ESG) investing, it would be premature for people on the Right to imagine that the Left’s lock on the finance industry is ending.
ESG investing is notionally the idea that investors should consider the eponymous non-financial factors of ESG in making finance and investment decisions. The biggest part of “ESG” investing is the “E” (environment) and the biggest part of the “E” is climate and the dubious goal of “net zero emissions,” which I have previously written about <a href="https://www.wsj.com/articles/a-quiet-refutation-of-net-zero-climate-change-emissions-energy-global-warming-sec-goals-clean-power-11672262963?mod=opinion_lead_pos8" target="_blank" rel="noopener">here</a> and <a href="https://www.wsj.com/articles/net-zero-never-mind-environment-electrical-grid-carbon-emissions-climate-change-southern-co-energy-information-administration-db856556?mod=opinion_lead_pos10" target="_blank" rel="noopener">here</a>.
The phenomenon of ESG investing started out in the 1960s as “socially responsible investing” (SRI) investing, was rebranded as “corporate social responsibility” investing in the late 1990s and then rebranded again as ESG investing in the 2010s.
SRI/CSR/ESG investing was invented by the Left as a means of using stock ownership for political purposes. The practice started with labor unions in the 1960s. After the election of Ronald Reagan in 1980, a cadre of Left-wing activists got together to figure out how to use investment as a means of advancing the rest of the Left’s agenda.
In “Biz-War and the Out of Power Elite,&#8221; author Jarol B. Manheim writes, “22 young and wealthy individuals who shared a common concern about the conservative turn the country had taken … hit upon the idea to pool their [financial] resources and direct them at what they saw as socially and politically desirable programs&#8230;” aimed at corporations. Though it took time, this program succeeded beyond their wildest dreams. Meanwhile, the Right was largely asleep.
While Nobel laureate Milton Friedman prominently pushed back against SRI investing in his 1970 New York Times magazine article entitled, “The Social Responsibility of Business Is to Increase Its Profits,” there was no organized follow-up until 2005. At that point, a friend of mine and I launched a publicly traded mutual fund called the Free Enterprise Action Fund to push back against the success the Left was having in foisting its CSR agenda on publicly-traded companies.
While our fund had <a href="https://www.wsj.com/articles/SB114411692660116163" target="_blank" rel="noopener">success</a>, we didn’t have the resources to survive the catastrophic market conditions of the housing bubble collapse. The deep-pocketed Left, though, easily survived the tough market conditions and emerged on the other side with near total control of the finance industry with its rebranded and steroidal ESG investing strategy. Virtually all large banks and Wall Street firms joined one or more of the Net Zero Bank Alliance, Net Zero Asset Managers, Net Zero Insurance Alliance, Glasgow Financial Alliance for Net Zero (GFANZ), Climate Act 100+ and other similar groups.
But this success bred arrogance on the Left and awoke conservatives to a degree that the Free Enterprise Action Fund could only have dreamed about in the 2000s. By 2020, the ESG empire and its anti-fossil fuel, anti-conservative, DEI and other “woke” policies and practices had sufficiently alarmed red state politicians into pushback. State investigations, hearings and laws reining in ubiquitous ESG actors and activities popped up. Congress got involved. Then, ESG investing began to reveal itself as <a href="https://x.com/JunkScience/status/1866505394635645146" target="_blank" rel="noopener">a poor investment strategy.</a>
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Perhaps most importantly, though, it had become increasingly clear that the ESG actors were illegally colluding as a cartel, possibly running afoul of anti-trust laws. While the ESG actors could possibly organize themselves into pushback against red states, the post-2024-election prospect of facing a federal government entirely controlled by Republicans would be too daunting. So, amid the holiday distractions, Bank of America, Citigroup, Morgan Stanley, Goldman Sachs and JPMorgan Chase all dropped out of the Net Zero Banking Alliance.
But those concerned about ESG would be wise not to declare victory and move on. The Left has acquired immense influence and power over the financial industry and has no intention of surrendering it. ESG may be dead as brand, but not as a strategy. The Left has been invested in SRI/CSR/ESG for a long time and for the long-term. While they will likely head underground for a few years, they will certainly be plotting a comeback that may start as soon as the 2026 elections.
* * *
Steve Milloy is a senior legal fellow with the Energy and Environment Legal Institute.
The views expressed in this piece are those of the author and do not necessarily represent those of The Daily Wire.

NYSE Opens For Last Day Of Trading In 2024

As Banks Flee ESG, Conservatives Should Remain Vigilant

Bank of America

Citigroup

finance

Goldman Sachs

Social Justice

Republicans on the House Judiciary Committee demanded Friday that over 60 companies provide answers on their involvement with leftist climate organizations, according to letters first shared with The Daily Wire. 
House Judiciary Chair <a href="https://www.dailywire.com/topic/jim-jordan" target="_blank" rel="noopener">Jim Jordan</a> (R-OH) and Rep. Thomas Massie (R-KY) told large companies, including BlackRock, State Street Global Advisors, and J.P. Morgan, to preserve all documents related to their involvement with the Glasgow Financial Alliance for Net Zero and the Net Zero Asset Managers. They also asked whether their involvement with those organizations had any influence on their company policies and asset management. 
The lawmakers wrote that “the Committee has uncovered evidence that financial institutions are colluding with climate activists through initiatives like the Glasgow Financial Alliance for Net Zero (GFANZ) and the Net Zero Asset Managers (NZAM) initiative to collectively adopt and impose left-wing environmental, social, and governance (ESG)-related goals, which may violate U.S. antitrust law.”
“The Committee has obtained evidence that members of GFANZ and NZAM attempt to impose a ‘net-zero’ climate agenda on U.S. companies in their investment portfolios,” they added. 
The Glasgow Financial Alliance for Net Zero describes itself as “a global coalition of leading financial institutions committed to accelerating the decarbonization of the economy.&#8221; Net Zero Asset Managers, which says its signers have more than $57.5 trillion under management, is “an international group of asset managers committed, consistent with their fiduciary duty to their clients and beneficiaries, to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner.”
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In the letter to J.P.Morgan Asset Management shared with The Daily Wire, the lawmakers ask if its membership in the organization has “altered its ‘stewardship and engagement strategy’ with its portfolio companies&#8221; and if it had taken any actions to push the companies it invests in toward net zero. 
The lawmakers also asked the companies if their involvement with both climate initiatives had impacted its voting policy, requesting an answer to its questions by January 10, 2025. 
“The Committee has reason to believe that J.P. MorganAsset Management may be in possession of documents and communications related to GFANZ and NZAM’s collusive activity that would inform potential legislative reforms,” the lawmakers wrote. “This letter serves as a formal request to preserve all existing and future records and materials relating to the topics addressed in this letter.”
In June, the House Judiciary Committee <a href="https://www.dailywire.com/news/house-republicans-take-aim-at-climate-cartel-pushing-decarbonization-of-american-industry">released</a> a report saying that there was a “climate cartel” working together to push companies to impose radical environmental goals and the decarbonization of American industry.

House Judiciary Committee Holds Hearing On Oversight Of FBI

EXCLUSIVE: Jordan, Massie Demand 60+ Companies Provide Answers On Climate Activism

BlackRock

Climate Change

House Judiciary Committee

Jim Jordan

Thomas Massie

Financial giants JPMorgan and State Street announced this week that they were leaving the Climate Action 100+ organization, an investors group that pushes ESG initiatives and controls about $68 trillion in assets. 
Black Rock, the world’s largest asset manager, also announced that it would be pulling some investment away from Climate Action, <a href="https://www.nytimes.com/2024/02/16/business/dealbook/wall-streets-climate-retreat.html" target="_blank" rel="noopener">meaning</a> that the total investment value lost by the group is around $14 trillion. The moves were praised by Republicans, who have said that companies engaging in ESG initiatives harm the economy and use customers&#8217; money for political purposes. 
State Street said Climate Action 100+ requirements were no longer in line with company policy. “SSGA has concluded the enhanced Climate Action 100+ phase 2 requirements for signatories are not consistent with our independent approach to proxy voting and portfolio company engagement,” State Street <a href="https://www.ft.com/content/3ce06a6f-f0e3-4f70-a078-82a6c265ddc2" target="_blank" rel="noopener">told</a> The Financial Times. 
JPMorgan said that it was making the move because it doesn’t have to rely on Climate Action 100+ anymore. “Given these strengths and the evolution of its own stewardship capabilities, JPMAM has determined that it will no longer participate in Climate Action 100+ engagements,&#8221; the group said.
Climate Action, formed in 2017, <a href="https://www.climateaction100.org/approach/business-case/" target="_blank" rel="noopener">says</a> that it has over 700 investors who engage  “companies on improving climate change governance, cutting emissions and strengthening climate-related financial disclosure” and pushing the world’s biggest companies “take necessary action on climate change.”
House Judiciary Chair Jim Jordan praised the news and urged Black Rock to disengage from Climate Action. &#8220;Today’s decisions by JPMorgan and State Street are big wins for freedom and the American economy, and we hope more financial institutions follow suit in abandoning collusive ESG actions.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Today’s decisions by JPMorgan and State Street are big wins for freedom and the American economy, and we hope more financial institutions follow suit in abandoning collusive ESG actions. <a href="https://t.co/PT3LlDjMSa">https://t.co/PT3LlDjMSa</a>
&mdash; Rep. Jim Jordan (@Jim_Jordan) <a href="https://twitter.com/Jim_Jordan/status/1758156354538131807?ref_src=twsrc%5Etfw">February 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
West Virginia State Treasurer Riley Moore, a frequent critic of ESG policies, also <a href="https://www.wvtreasury.com/About-The-Office/Press-Releases/ID/594/Treasurer-Moore-Commends-State-Street-JPMorgan-for-Withdrawing-from-International-Climate-Group" target="_blank" rel="noopener">praised</a> the decision from JPMorgan and State Street. Moore previously cut ties with Black Rock over their policies toward coal and natural gas. 
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“This is a step in the right direction and significant victory in our states’ fight against the international corporate collusion targeting the coal, oil and natural gas industries,” Treasurer Moore said. “West Virginia and our coalition of states have been fighting for years against these efforts to boycott and curtail capital to our critical energy industries and diminish important economic activity and revenue for our states. This is a sign our efforts are making an impact.”
A coalition of Republican attorneys general <a href="https://ago.wv.gov/Documents/2023-03-30%20Asset%20Manager%20letter%20Press%20FINAL.pdf" target="_blank" rel="noopener">previously wrote</a> to financial asset managers about their involvement with Climate Action warning them about using American’s savings to “push political goals.”

Climate Activists Mark 10 Years Since Hurricane Sandy In New York

Financial Giants Pull $14 Trillion From Climate Group That Pressures Companies To Take ‘Action On Climate Change’

U.S.

Saturday Night Live made headlines this weekend for all the wrong reasons. During Weekend Update, a cast member suggested that Donald Trump stumbled and introduced a “new term” to the debate called “de-banking.” What followed was a rather feeble attempt at mocking the former president.
In reality, de-banking is no laughing matter. It means losing essential financial services, like a bank account, payment processing, or even insurance, because of your views. And it is on the rise — so much so that the U.S. Supreme Court is set to hear arguments involving the issue this term.
Funny enough, the case originates in the Empire State (“Live from New York,” anybody?), where the National Rifle Association is challenging New York’s attempt to coerce banks and insurance companies to withdraw services from the group. The NRA alleges that the Department of Financial Services — at the behest of then-Governor Andrew Cuomo — used its vast power to regulate “reputational risk” along with back-channel meetings, public investigations, and threats of fines to punish the group for its Second Amendment advocacy. 
This is not an isolated incident. A string of religious ministries and conservative groups have also been <a href="https://www.viewpointdiversityscore.org/resources/instances-of-viewpoint-based-de-banking" target="_blank" rel="noopener">victimized</a> by de-banking. As Alliance Defending Freedom points out in a friend-of-the-court brief filed in support of the NRA’s position, pro-life group Heartbeat International was recently canceled by its insurance provider over its “anti-abortion” advocacy.
Likewise, Bank of America de-banked Indigenous Advance Ministries, an ADF client that serves impoverished Ugandan widows and orphans. The bank closed Indigenous Advance’s long-standing account as well as the account of a local church that donates to the ministry. The bank claimed it no longer wanted to serve their “business type” and that Indigenous Advance exceeded the “bank’s risk tolerance.”
It did this right before a planned mission trip to Uganda, sending Indigenous Advance scrambling to open new accounts and drastically reducing the funds for the trip. It couldn’t pay its Ugandan ministry partners — who live meal to meal — for several weeks. And it had to temporarily reduce aid to the impoverished people they serve.
Similar instances of de-banking abound. Former Brexit leader Nigel Farage’s high-profile case resulted in the <a href="https://www.reuters.com/business/finance/natwest-board-backs-ceo-alison-rose-over-farage-account-row-2023-07-25/" target="_blank" rel="noopener">ouster</a> of megabank NatWest’s CEO. Serial offender JPMorgan Chase’s <a href="https://www.wsj.com/articles/jpmorgan-targeted-by-republican-states-over-accusations-of-religious-bias-903c8b26?mod=Searchresults_pos1&amp;page=1" target="_blank" rel="noopener">hit list</a> includes the <a href="https://familycouncil.org/?p=25159" target="_blank" rel="noopener">Arkansas Family Council</a>, <a href="https://www.foxbusiness.com/politics/chase-bank-missouri-conservative-group" target="_blank" rel="noopener">Defense of Liberty</a>, and U.S Ambassador Sam Brownback&#8217;s <a href="https://www.newsweek.com/stop-troubling-trend-politically-motivated-debanking-opinion-1787639" target="_blank" rel="noopener">National Committee for Religious Freedom</a>.
<iframe loading="lazy" title="Weekend Update: Trump Ordered to Pay $83 Million, DeSantis Endorses Trump - SNL" width="500" height="281" src="https://www.youtube.com/embed/QLt6xK33mUc?start=133&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
There are many reasons for this phenomenon, but the root cause is vague terms of service. 
“Reputational” and “social” risk policies pervade financial institutions. Customers at all 28 commercial banks scored in Alliance Defending Freedom’s <a href="https://www.viewpointdiversityscore.org/business-index" target="_blank" rel="noopener">index</a> that measures corporate respect for free speech and religious freedom are currently vulnerable to de-banking.
Most alarmingly, 7 of the nation’s 10 largest commercial banks — including the top 3 — have “reputational risk” or “hate speech” policies. These policies’ overly broad and subjective language permit employees to discriminate based on a customer’s viewpoint and then hide their viewpoint-based actions behind opaque standards. They also allow abuse by government regulators.
A positive ruling in the NRA case — which, in a comedic twist that should provide fodder for SNL writers, is being argued by the ACLU — would affirm that the government cannot carry out its censorship schemes by co-opting third parties as censors. That would help. But that does not address the many de-banking decisions that can be laid at the feet of private actors.
The solution to this problem may lie with the states. This state legislative season presents an opportunity for states interested in protecting against politicized de-banking to act. Any such law should focus on the worst actors – the largest banks and payment processors. Thanks to wide-reaching government benefits, such as greater lending power, FDIC insurance rates, subsidies, bailouts, and an anticompetitive chartering system, these institutions dominate their markets over state-level competitors yet are responsible for the worst de-banking incidents.
At a minimum, the law should prohibit denial of services based on religious or political beliefs, give customers the right to ask for a detailed explanation when services are denied, empower the attorney general to enforce the statute, and provide aggrieved customers a private right of action.
No one should have to worry that they could lose their bank account, insurance coverage, or other essential financial services because of their religious or political views. Yet it’s clear that vague financial service policies abused by private and government actors pose a serious threat to everyone’s freedom of speech and religion.
So, an inadvertent thanks to our pals at SNL for bringing up de-banking. It’s about time we talked about it. And it’s about time for the law to require viewpoint neutrality from the biggest banks and payment processors.
* * *
Jeremy Tedesco is senior counsel and senior vice president of Corporate Engagement for <a href="http://www.adflegal.org/?utm_source=wallstreetjournal&amp;utm_medium=oped" target="_blank" rel="noopener">Alliance Defending Freedom</a> (<a href="https://twitter.com/ADFLegal">@ADFLegal</a>).
The views expressed in this piece are those of the author and do not necessarily represent those of the Daily Wire.

SNL’s Colin Jost on Weekend Update

SNL’s Trump ‘De-Banking’ Gaff Accidentally Elevates Hot Button Issue

SNL’s Trump 'De-Banking' Gaff Accidentally Elevates Hot Button Issue 

Donald Trump

Readers Pass

Saturday Night Live

<a href="https://www.dailywire.com/topic/jp-morgan">JPMorgan Chase</a>, the largest investment bank in the U.S., said it would pay $75 million to settle a lawsuit accusing the financial institution of facilitating <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>’s sex-trafficking network. 
The U.S. Virgin Islands sued the bank for $190 million, claiming it looked the other way from suspicious payments and money transfers while Epstein committed sex crimes. The trial was set to begin on October 23. 
According to the Virgin Islands, the <a href="https://www.cnbc.com/2023/09/26/jpmorgan-to-settle-jeffrey-epstein-suit-by-virgin-islands.html?__source=sharebar%7Ctwitter&amp;par=sharebar" target="_blank" rel="noopener">settlement</a> “includes several substantial commitments by JPMorgan Chase to identify, report, and cut off support for potential human trafficking, including establishing and implementing comprehensive policies and procedures.”
Of the settlement, $20 million will go toward legal fees, while $55 million will be allocated for anti-trafficking efforts by the Virgin Islands and charities. 
“As part of the settlement, JPMorgan has agreed to implement and maintain meaningful anti-trafficking measures, which will help prevent human trafficking in the future,” Virgin Islands Attorney General Ariel Smith said in a statement.
“This settlement is an historic victory for survivors and for state enforcement, and it should sound the alarm on Wall Street about banks’ responsibilities under the law to detect and prevent human trafficking,” Smith added. 
According to the Wall Street Journal, Epstein <a href="https://www.wsj.com/finance/banking/jpmorgan-paying-75-million-to-settle-suit-over-jeffrey-epstein-ties-545e7824" target="_blank" rel="noopener">maintained</a> dozens of bank accounts with JPMorgan and regularly communicated with leadership at the bank. 
“While the settlement does not involve admissions of liability, the firm deeply regrets any association with this man, and would never have continued doing business with him if it believed he was using the bank in any way to commit his heinous crimes,” JPMorgan said in a statement. 
At the same time the settlement between the Virgin Islands and JPMorgan was announced, the bank said it had settled with former executive Jes Staley, who was close to Epstein.
Staley has been sued by JPMorgan, which blamed the bank’s connection to Epstein on him. The details of that settlement have not been disclosed. 
Emails between Staley and Epstein allegedly <a href="https://www.dailywire.com/news/virgin-islands-and-jpmorgan-accuse-each-other-of-enabling-jeffrey-epstein-in-new-court-filings" target="_blank" rel="noopener">show them discussing</a> someone described as “Snow White.” Staley allegedly emailed Epstein from his work account on July 9, 2010, saying, “That was fun. Say hi to Snow White.” Epstein reportedly replied, “What character would you like next,” to which Staley allegedly replied, “Beauty and the Beast.”
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In an <a href="https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rh8weMHKF6X0/v0" target="_blank" rel="noopener">additional filing</a> from the Virgin Islands, Staley was allegedly told by then-JPMorgan CEO Douglas Warner that Epstein was “one of the most connected people I know of in New York,” saying he should meet him. 
JPMorgan <a href="https://www.dailywire.com/news/jpmorgan-to-settle-sex-trafficking-lawsuit-with-epstein-victims-for-290-million" target="_blank" rel="noopener">previously settled</a> with victims of Epstein’s trafficking operation for $290 million. While the bank has agreed to settle, it has not acknowledged any wrongdoing. 
The bank had accused the Virgin Islands of complicity with Epstein, claiming that the territory “created a haven for Epstein’s criminal activity.”

Patrick McMullan Archives

JPMorgan Settles Another Jeffrey Epstein-Related Suit Weeks Before Trial Date

Courts

Jeffrey Epstein

Sex Trafficking

Virgin Islands

The U.S. <a href="https://www.dailywire.com/topic/virgin-islands" target="_blank" rel="noopener">Virgin Islands</a> and banking giant JPMorgan Chase have accused each other of enabling <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>, according to new court filings. 
The filing from the Virgin Islands references alleged communications between a former and current JPMorgan executive which appears to show that they knew of Epstein’s ties to “nymphettes,” while the filing from JPMorgan says that the Virgin Islands was trying to shift blame for allowing Epstein’s <a href="https://www.dailywire.com/topic/sex-trafficking" target="_blank" rel="noopener">sex trafficking</a> to the bank.
“This is not a case about Jeffrey Epstein’s victims. This is a case in which a complicit governmental actor, the United States Virgin Islands (USVI), knowingly used its sovereign powers to enable Epstein’s sex crimes, including by soliciting his input on its own sex offender legislation, waiving sex offender monitoring requirements for him, facilitating the provision of ESL classes and visas that allowed him to bring victims to USVI, and actively looking the other way whenever he arrived at USVI airports accompanied by young women and girls,” JPMorgan <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.591653/gov.uscourts.nysd.591653.223.0.pdf" target="_blank" rel="noopener">said</a> in a legal filing on Monday. 
The bank added that it will prove that the Virgin Islands “created a haven for Epstein’s criminal activity.” JPMorgan, the largest investment bank in the U.S., <a href="https://www.dailywire.com/news/jpmorgan-to-settle-sex-trafficking-lawsuit-with-epstein-victims-for-290-million" target="_blank" rel="noopener">settled with victims</a> of Epstein&#8217;s sex trafficking operation for $290 million last month. 
In its <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.591653/gov.uscourts.nysd.591653.221.0.pdf" target="_blank" rel="noopener">148-page filing</a>, the Virgin Islands alleged that JPMorgan was deeply tied to Epstein and facilitated his sex-trafficking operation. The government accused JPMorgan of facilitating millions of dollars in payments to Epstein’s alleged co-conspirators in sexually abusing young women, settlement payments, legal expense payments, “suspicious cash withdrawals,” and payments to women with “Eastern European surnames.” 
One message included in the filing from former JPMorgan CFO David Brigstocke to JPMorgan executive Mary Erdoes in September 2012 seems to indicate the executives knew that all was not right with Epstein. 
&#8220;Reminded me of JE&#8217;s house, except it was more tasteful, and fewer nymphettes,&#8221; Brigstocke allegedly wrote. &#8220;More like the Frick [museum]. Art was fabulous.&#8221;
The filing also points to alleged communications between Epstein and Jes Staley, a former banking executive for JPMorgan and Barclays. Staley has been sued by JPMorgan, who blames the bank&#8217;s connection to Epstein on him. 
Alleged emails between Staley and Epstein show them discussing “Snow White.” Staley allegedly emailed Epstein on July 9, 2010 from his work email saying, “That was fun. Say hi to Snow White.” Epstein reportedly replied, “what character would you like next,” to which Staley allegedly replied “Beauty and the Beast.”
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In an <a href="https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rh8weMHKF6X0/v0" target="_blank" rel="noopener">additional filing</a> on Monday from the Virgin Islands, Staley was allegedly told by then JPMorgan CEO Douglas Warner that Epstein was “one of the most connected people I know of in New York,” saying he should meet him. 
The Virgin Islands is <a href="https://www.reuters.com/legal/jpmorgan-ignored-epsteins-nymphettes-us-virgin-islands-says-2023-07-25/" target="_blank" rel="noopener">suing</a> JPMorgan for $190 million over its handling of its relationship with Epstein, while the bank has sued Staley to make him culpable for any Epstein fallout.

Virgin Islands And JPMorgan Accuse Each Other Of Enabling Jeffrey Epstein In New Court Filings

Crime

U.S. Securities and Exchange Commission (SEC) officials on Thursday slapped a $4 million fine against JPMorgan Chase after the multinational financial service allegedly deleted approximately 47 million communications amid a dozen civil securities-related investigations.
The commission alleged that JPMorgan Securities deleted millions of emails and instant messages in 2019 that were dated between January to April of 2018. According to the <a href="https://www.sec.gov/litigation/admin/2023/34-97787.pdf?utm_medium=email&amp;utm_source=govdelivery">settlement order</a>, the messages were deleted from about 8,700 mailboxes belonging to as many as 7,500 employees who had regular contact with Chase customers.
Many of the deleted emails included business records sought in at least a dozen regulatory investigations that the largest U.S. bank was required to retain for three years under the commission&#8217;s rules.
&#8220;Because the deleted records are unrecoverable, it is unknown – and unknowable – how the lost records may have affected the regulatory investigations,&#8221; the commission said in the order. &#8220;Indeed, a member of JPMorgan&#8217;s compliance department acknowledged in an internal email after the deletion event was discovered that lost documents could relate to potential future investigations, legal matters and regulatory inquiries.&#8221;
Officials also ordered JPMorgan to &#8220;cease and desist from committing any future violations.&#8221;
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The order stated JPMorgan initiated a project in 2016 &#8220;to delete from its system older communications and documents no longer required to be retained,&#8221; which included aged emails, instant messages, and communications transmitted to Bloomberg terminal services. However, the project experienced &#8220;glitches . . . with the identified documents not, in fact, being expunged.&#8221;
&#8220;In June 2019, while troubleshooting the issue, firm employees executed deletion tasks on electronic communications from the first quarter of 2018, erroneously believing, based on written representations from JPMorgan’s archiving vendor, that all the documents were coded in a way to prevent permanent deletion of records still within the thirty-six month regulatory retention period,&#8221; the order continued.
&#8220;The eComm Tech team and the vendor investigated the issue, and learned that electronic communications in the Chase domain which had been the target of the troubleshooting tasks had not, in fact, been properly coded by the vendor with the thirty-six month default retention and actually had been deleted,&#8221; the order said.
JPMorgan, which is based in New York, agreed to the commission&#8217;s sanction but did not admit or deny the allegations to media outlets.
&#8220;JPMorgan takes its record-keeping obligations seriously,&#8221; the bank said in a statement, according to <a href="https://www.reuters.com/legal/jpmorgan-chase-is-fined-by-sec-over-mistaken-deletion-emails-2023-06-22/" target="_blank" rel="noopener">Reuters</a>.
According to reports, the latest punishment marks the third time the financial adviser failed to preserve electronic records. In 2021, JPMorgan officials agreed to pay $125 million in penalties for losing text messages and other electronic communications sent between January 2018 and November 2020. In 2005 the banking firm paid $700,000 in penalties after failing to preserve electronic records from 1999 to 2002.
Earlier his month, JPMorgan Chase <a href="https://www.dailywire.com/news/jpmorgan-to-settle-sex-trafficking-lawsuit-with-epstein-victims-for-290-million" target="_blank" rel="noopener">agreed</a> to settle with victims of Jeffrey Epstein&#8217;s sex trafficking operation for $290 million, according to a tentative agreement.
The victims had alleged the bank allowed Epstein, a wealthy financier and convicted pedophile who died in a New York City jail cell in 2019, to facilitate his sex trafficking operation through his accounts and connections at the bank. The precise number of victims involved in the suit remains unclear.
The bank did not admit any wrongdoing in connection to Epstein, and CEO Jamie Dimon has testified that the bank was in the dark about Epstein&#8217;s misdeeds.
JPMorgan is facing a similar lawsuit in the Virgin Islands, where it is also under fire over its relationship with Epstein. That trial is set to begin in October.
Previously, Deutsche Bank, another bank accused of ambivalence to Epstein&#8217;s sex trafficking operation, settled with several individuals who said they were victims of Epstein&#8217;s crimes and other women for $75 million.
JPMorgan Chase added in its Monday statement that it regretted any association with Epstein.
“Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes,” the bank said.
Leif Le Mahieu contributed to this report.

FRANCE-BANKING-POLITICS

SEC Regulators Allege JPMorgan ‘Erroneously’ Deleted 47 Million Emails Amid Investigations

SEC Regulators Allege JPMorgan 'Erroneously' Deleted 47 Million Electronic Records Amid Dozens Of Civil Securities-Related Investigations

The wife of a Democrat politician in the U.S. Virgin Islands is accused of helping <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a> facilitate his alleged sex trafficking scheme.
The Wall Street Journal <a href="https://www.wsj.com/articles/jpmorgan-says-ex-first-lady-of-u-s-virgin-islands-helped-epstein-traffic-women-509dd39d" target="_blank" rel="noopener">reported</a> that the revelation was made in a court filing from JPMorgan Chase. The bank agreed to pay approximately $290 million to settle a class action lawsuit from Epstein&#8217;s victims over the bank&#8217;s relationship with the now-deceased sex trafficker.
The bank released emails between Epstein and former First Lady Cecile de Jongh, wife of then-USVI <a href="https://www.nga.org/governor/4796-2/" target="_blank" rel="noopener">Democrat Governor</a> John de Jongh Jr., who was &#8220;an office manager for the convicted sex offender’s businesses in the U.S. territory.&#8221;
The U.S. Virgin Islands sued the bank last year claiming that it helped Epstein facilitate his crimes by allowing him to use their bank, which provided him access to the financial system.
The bank said in court documents that the U.S. Virgin Islands “protected Epstein, fostering the perfect conditions for Epstein’s criminal conduct to continue undetected. Rather than stop him, they helped him.”
The bank said that de Jongh ran Epstein&#8217;s business operations on the island while her husband was the governor and helped him deal with local politicians and law enforcement.
De Jongh allegedly helped enroll numerous Epstein victims in English classes, the bank said. Epstein paid for the courses. She also allegedly helped get their visas set up so they could be brought to the island.
She allegedly asked Epstein to make political donations to the congressional campaign of Democrat Stacey Plaskett, who was later elected to U.S. Congress as a delegate.
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A spokesperson for the island&#8217;s attorney general claimed that the bank &#8220;cherry-picked&#8221; facts to distract from its own legal woes.
“JPMorgan Chase has cherry-picked and mischaracterized Epstein’s interactions with U.S. Virgin Islands officials and residents in an attempt to distract and shift blame away from its role in facilitating Jeffrey Epstein’s heinous crimes,” the spokesperson said.

Democrat Politician’s Wife Allegedly Helped Facilitate Epstein’s Sex Crimes: Report

Democrat Politician's Wife Allegedly Helped Facilitate Epstein's Sex Crimes: Report

World

<a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a>, the largest investment bank in the United States, will settle with victims of <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>&#8216;s sex trafficking operation for $290 million, according to a tentative agreement. 
The victims had <a href="https://apnews.com/article/jpmorgan-chase-epstein-settlement-ddb90e634536bc1828bf5d05608b39f1" target="_blank" rel="noopener">alleged</a> the bank allowed Epstein, a wealthy financier and convicted pedophile who died in a New York City jail cell in 2019, to facilitate his sex trafficking operation through his accounts and connections at the bank. The precise number of victims involved in the suit remains unclear. 
“The parties in Jane Doe 1 v. JPMorgan Chase Bank, N.A. have informed the Court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein’s crimes, which is subject to court approval,” the bank said in a <a href="https://www.cnbc.com/2023/06/12/jpmorgan-reaches-settlement-with-epstein-victim-in-lawsuit.html" target="_blank" rel="noopener">statement</a> on Monday. 
The bank did not admit any wrongdoing in connection to Epstein, and CEO Jamie Dimon has testified that the bank was in the dark about Epstein’s misdeeds. 
“We all now understand that Epstein’s behavior was monstrous, and we believe this settlement is in the best interest of all parties, especially the survivors, who suffered unimaginable abuse at the hands of this man,” the statement from the bank continued. 
The financial institution has been accused of giving special treatment to Epstein to do business with wealthy individuals in the deceased sexual predator&#8217;s orbit. According to some reports, multiple bank officials <a href="https://www.dailywire.com/news/jpmorgan-chase-had-deeper-ties-to-jeffrey-epstein-than-previously-acknowledged-report" target="_blank" rel="noopener">visited</a> Epstein in the years following his first sex offense conviction in 2008. 
Mary Erdoes, a senior lieutenant to veteran JPMorgan Chase CEO Jamie Dimon, visited Epstein’s townhouse on the Upper East Side of Manhattan in 2011 and 2013, unnamed people familiar with the matter told <a href="https://www.wsj.com/articles/jpmorgan-jeffrey-epstein-525febe3?mod=hp_lead_pos1">The Wall Street Journal</a>. Erdoes communicated with Epstein via email about a charitable fund JPMorgan Chase was seeking to launch.
John Duffy, who formerly led JPMorgan Chase’s private bank, reportedly visited the townhouse in 2013 for a meeting; despite multiple warnings from compliance officers, the company renewed an authorization one month later, permitting Epstein to borrow funds against his account. Justin Nelson, a banker who worked with Epstein at JPMorgan Chase, traveled to a New Mexico ranch owned by the pedophile in 2016 and participated in a handful of meetings at the Manhattan townhouse between 2014 and 2017.
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JPMorgan Chase added in its Monday statement that it regretted any association with Epstein. 
“Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes,” the bank said. 
JPMorgan is facing a similar lawsuit in the Virgin Islands, where it is also under fire over its relationship with Epstein. That trial is set to begin in October. 
Previously, Deutsche Bank, another bank accused of ambivalence to Epstein’s sex trafficking operation, <a href="https://www.dailywire.com/news/big-bank-will-pay-massive-sum-to-settle-epstein-victim-lawsuit" target="_blank" rel="noopener">settled</a> with several individuals who said they were victims of Epstein’s crimes and other women for $75 million.

JPMorgan To Settle Sex Trafficking Lawsuit With Epstein Victims For $290 Million

Sex Crimes

JPMorgan CEO <a href="https://www.dailywire.com/topic/jamie-dimon" target="_blank" rel="noopener">Jamie Dimon</a> suggested during an interview this week that he is open to potentially running for president.
The 67-year-old leads America&#8217;s largest bank and is arguably the most powerful person in corporate America, according to <a href="https://www.cnn.com/2023/05/31/economy/jamie-dimon-politics/index.html" target="_blank" rel="noopener">CNN</a>.
Dimon would not rule out the possibility when asked about it during an interview on Bloomberg Television on Wednesday.
“I love my country, and maybe one day I’ll serve my country in one capacity or another, but I love what I do,” he said.
Dimon <a href="https://www.cnn.com/2023/05/31/economy/jamie-dimon-politics/index.html#:~:text=But%20if%20he%20did%20eventually,brain%20is%20kind%20of%20Republican.%E2%80%9D" target="_blank" rel="noopener">told</a> CNBC in 2019 that he considers himself  “barely a Democrat,” adding, “my heart is Democratic, my brain is kind of Republican.”
Dimon has hammered Democrats in recent years under the Biden administration, including taking shots at President Joe Biden and far-Left Rep. Rashida Tlaib (D-MI).
Dimon enraged Tlaib during a House hearing when she pressed him over whether his bank had a policy &#8220;against funding new oil and gas products.&#8221;
“Absolutely not,” Dimon responded. “And that would be the road to hell for America.”
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“Yeah, that’s fine,” Tlaib responded. “That’s why, sir, you know what, everybody that got relief from student loans, has a bank account with your bank should probably take out their account and close their account, the fact that you’re not even there to help relieve many of the folks that are in debt, extreme debt because of student loan debt, and you’re out there criticizing it.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Rep. <a href="https://twitter.com/RashidaTlaib?ref_src=twsrc%5Etfw">@RashidaTlaib</a> challenges bank CEOs to agree to stop funding fossil fuels, is rejected by every single one 
Jamie Dimon: &quot;That would be the road to Hell for America&quot; <a href="https://t.co/U7yr6AbtyF">pic.twitter.com/U7yr6AbtyF</a>
&mdash; Tom Elliott (@tomselliott) <a href="https://twitter.com/tomselliott/status/1572682957562978304?ref_src=twsrc%5Etfw">September 21, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Dimon said during a CNBC interview last fall that Biden was &#8220;getting energy completely wrong,&#8221; and that the war in Ukraine has only exacerbated the situation.
“We have it completely backwards, and in my view, America should have been pumping oil and gas,” Dimon continued. “And it should have been supported, you know, we’re trying to have our cake and eat it, too, a little bit. And so you have the, you have the problem this winter, which it sounds like they’ve got enough supply to get through this winter. But we have a longer term problem now, which is the world is not producing enough oil and gas to reduce coal, make the transition, create security for people. So I would put it in a critical category.”
“And this should be treated almost as a matter of war at this point, nothing short of that,” he concluded on the matter. “And obviously, America needs to play a real leadership role. America is the swing producer, not Saudi Arabia. And we should have gotten that right starting in March. It’s almost too late to get it right. Because obviously these are longer term investments.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
JPMorgan&#39;s Jamie Dimon: Biden&#39;s &quot;getting energy completely wrong&quot;; restricting drilling has actually &quot;made the climate worse &#8230; we have it completely backwards&quot;
&quot;This should be treated almost as a matter of war &#8230; America needs to play a leadership role&quot; <a href="https://t.co/TBieNorEtH">pic.twitter.com/TBieNorEtH</a>
&mdash; Tom Elliott (@tomselliott) <a href="https://twitter.com/tomselliott/status/1579838854839689216?ref_src=twsrc%5Etfw">October 11, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Key Interviews At the JPMorgan Global China Summit

America’s Top Banking CEO Suggests He May Run For President

America's Top Banking CEO Suggests He May Run For President

2024 Election

Elections

Politics

Attorneys for investment bank <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> accused <a href="http://dailywire.com/topic/democrats" target="_blank" rel="noopener">Democratic</a> officials in the U.S. <a href="https://www.dailywire.com/topic/virgin-islands" target="_blank" rel="noopener">Virgin Islands</a> of engaging in “quid pro quo” relationships with late financier <a href="http://dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a> in an explosive Tuesday legal filing shared with The Daily Wire.
Lawyers for the U.S. Virgin Islands <a href="https://www.dailywire.com/news/u-s-virgin-islands-sues-major-bank-for-allegedly-turning-blind-eye-to-epstein" target="_blank" rel="noopener">filed</a> a lawsuit against JPMorgan Chase late last year claiming that the financial institution, which worked with Epstein from 1998 to 2013, financially benefited from his underage sex trafficking schemes. The filing from JPMorgan Chase, which is opposed to an attempt from U.S. Virgin Islands attorneys to toss the company’s defenses, alleged that the government of the territory was the entity which “most directly failed to protect public safety” and “most actively facilitated” the criminal activity.
“Epstein could have lived anywhere in the world. He chose USVI,” the document said. “Discovery obtained in this case reveals why. For two decades, Epstein maintained a quid pro quo relationship with USVI’s highest ranking officials.”
Attorneys for the investment bank added that Epstein, who committed suicide in his jail cell in 2019, allegedly granted officials “money, advice, influence and favors” as they provided him with tax incentives, effectively “looking the other way when he walked through USVI airports accompanied by girls and young women.”
The court document accused Stacey Plaskett, the U.S. Virgin Islands non-voting delegate to Congress, of meeting with Epstein in his Manhattan townhouse less than a year before his arrest in 2019. Attorneys added that U.S. Virgin Islands First Lady Cecile De Jongh allegedly helped to foster a political culture in the Democratic Party of the Virgin Islands which “allowed Epstein to remain unchecked in exchange for his sponsorship and financial contributions.”
Lawyers additionally contended that Epstein “exerted influence” over the territory’s attempts to update sex offender penalties in 2011. “Even as to the regulations USVI did enforce, it did so incompetently,” the complaint added. “While the USVI did conduct site visits of Epstein’s residence, those inspections were cursory at best.”
U.S. District Judge Jed Rakoff previously <a href="https://www.dailywire.com/news/epstein-victim-allowed-to-sue-big-banks-for-allegedly-enabling-sex-offender-we-will-leave-no-stone-unturned" target="_blank" rel="noopener">tossed</a> most charges against JPMorgan Chase and Deutsche Bank in the proposed class action lawsuit submitted by officials from the U.S. Virgin Islands and an unnamed Epstein victim. Deutsche Bank <a href="https://www.dailywire.com/news/big-bank-will-pay-massive-sum-to-settle-epstein-victim-lawsuit" target="_blank" rel="noopener">agreed</a> last week to pay $75 million to settle a lawsuit accusing the company of failing to recognize the sex trafficking scheme.
JPMorgan Chase continued their relationship with Epstein even after he pleaded guilty to two counts of soliciting prostitution from a teenage girl in 2008.
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The disgraced financier had a <a href="https://www.dailywire.com/news/jpmorgan-chase-had-deeper-ties-to-jeffrey-epstein-than-previously-acknowledged-report" target="_blank" rel="noopener">deeper</a> relationship with employees of the investment bank than the company previously admitted, according to a recent <a href="https://www.wsj.com/articles/jpmorgan-jeffrey-epstein-525febe3?mod=hp_lead_pos1" target="_blank" rel="noopener">report</a> from The Wall Street Journal. Mary Erdoes, a senior lieutenant to veteran JPMorgan Chase CEO Jamie Dimon, visited Epstein’s townhouse in 2011 and 2013, unnamed people familiar with the matter told the outlet, and corresponded with him about a charitable fund JPMorgan Chase was seeking to launch.
John Duffy, who formerly led JPMorgan Chase’s private bank, reportedly visited the townhouse in 2013 for a meeting. The company renewed an authorization one month later, permitting Epstein to borrow funds against his account despite multiple warnings from compliance officers. Justin Nelson, a banker who worked with Epstein at JPMorgan Chase, traveled to a New Mexico ranch owned by the pedophile in 2016 and participated in a handful of meetings at the Manhattan townhouse between 2014 and 2017.

Jeffrey Epstein’s Private Island In The Caribbean Has Gone Quiet

Virgin Islands Democrats Let Epstein ‘Remain Unchecked,’ Received Money And Favors, JPMorgan Lawyers Allege

Virgin Islands Democrats Let Epstein 'Remain Unchecked,’ Received Money And Favors, JPMorgan Lawyers Allege

Democratic Party

Lawsuit

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