It is unknown why JPMorgan Chase has decided to end its banking relationship with Yeezy.
Ye has recently criticized his relationship with the financial institution.
JPMorgan Chase has officially ended its banking relationship with Yeezy after weeks of contentious news headlines and negative backlash. From sporting White Lives Matter T-shirts to making allegedly anti-Semitic tweets, Ye has been in the spotlight. After JPMorgan Chase decided to cut ties with Kanye West, the rapper has become the talk of the town once more.
The American multinational investment bank and financial services holding company stated in an official statement sent to Ye and his team that a recent discussion with a redacted entity led to the decision to end its banking relationship with Yeezy, LLC and its affiliated entities.
The statement goes on to say that JPMorgan Chase will give enough time to switch to another financial institution, with accounts, including all products and services, being kept open until November 21. After the date, Yeezy’s open accounts will be closed, less any permissible service charges and pending transactions.
The Reason Remains Unknown
It is unclear why JPMorgan Chase has decided to end its banking relationship with Yeezy, but Ye has been critical of the financial institution in recent weeks. Kanye West has received a lot of flak from a variety of people. The White Lives Matter T-shirt he wore to his Yeezy show sparked numerous debates and discussions. To add fuel to the fire, his recent anti-Semitic remarks sparked a new blaze.
The reason for JPMorgan’s decision remains unknown. While many believed it was because of Kanye West’s anti-Semitic tweets, a few others came out in support of the rapper.