JPMorgan Chase is terminating its banking relationship with YEEZY following the recent controversial headlines surrounding Kanye West, aka Ye.
In an official statement released via Twitter, the bank mentioned a recent discussion that took place with a redacted entity, indicating that it would be terminating “its banking relationship with YEEZY, LLC and its affiliated entities.” The statement was also sent directly to Ye and his team.
JPMorgan Chase said it would be offering Yeezy until November 21, 2022, to transition to another financial institution. After the specified date, the bank will go ahead and close all open accounts and deduct any permissible service charges and pending transactions.
According to conservative commentator Candace Owens, JPMorgan Chase gave “no official reason” for its decision.
The news follows recent events with the artist, including the suspension of his Instagram and Twitter accounts due to the sharing of antisemitic posts on the two platforms.
According to a Twitter spokesperson, “the account in question [had] been locked due to a violation of Twitter’s policies.”
When approached by Page Six after leaving a screening in Nashville on October 12, 2022, Ye said in response to the backlash to his antisemitic comments:
“Hey, if you call somebody out for bad business, that means you’re being antisemitic. I feel happy to have crossed the line of that idea so we can speak openly about things like getting canceled by a bank.”
Ye also went on to say he is “the richest black man in American history, that put $140 million in JPMorgan.” He ended the interview by saying he would “speak at a different time.”