Photo Credit: Can Pac Swire / CC by 2.0
JPMorgan Chase has severed banking ties with Yeezy LLC and its affiliates. Kanye has until November to find a new banking partner.
A letter sent to Kanye and tweeted by Candace Owens seems to confirm the news. “We are sending this letter to confirm our recent discussion with [REDACTED] that JPMorgan Chase Bank, N.A. has decided to end its banking relationship with Yeezy, LLC and its affiliated entities,” the letter begins.
“To provide the company with sufficient time to transition to another financial institution, we will continue to maintain the accounts, including all related products and services, until November 21, 2022.”
“To avoid any transaction delays, we suggest that you stop processing company transactions and/or using any products associated with the accounts five business days before the scheduled closure date set forth above. After that date, the bank will close any open accounts, and after deduction of any permissible service charges and pending transactions, remit all remaining funds in the form of a check delivered to the company at the address of record.”
“We ask that you act promptly and transfer your business to another financial institution before November 21, 2022,” the letter ends. Kanye West has aired many public grievances against Adidas, GAP, and other companies with which he does business.
He also made several anti-semitic comments on social media and during interviews. After wearing a ‘White Lives Matter’ shirt during a fashion show, his tirades about the event resulted in him being temporarily locked out on Instagram and Twitter.
The New York Times has verified that JPMorgan Chase is ending its relationship with Yeezy LLC, as cited in the letter posted to social media. Page Six approached Kanye about the news: “Hey, if you call somebody out for bad business, that means you’re being anti-semitic. I feel happy to have crossed the line of that idea so we can speak openly about things, like getting cancelled by a bank.” Kanye also called himself “the richest Black man in American history, that put $140 million in JPMorgan.”