JP Morgan Chase / Chase Bank

 

(owns WePay)

 

Trump-haters, race-mongers, Democrat activists

 

china

 

THE BAD:

Donald Trump himself has specifically called for the boycott of this company.

 

Chairman and CEO, Jamie Dimon is a vile, outspoken never-Trumper.

 

Dimon voiced opposition to Georgia's much-needed voting reform law.

 

Jamie Dimon and his wife have donated over half a million dollars to Democratic candidates and committees since 1989.

 

Employees and PAC's at JPMorgan Chase donated a whopping $762,269 more to Biden than to Trump.

 

JP Morgan paused all contributions to Republicans who voted to overturn the 2020 election.

 

WePay cut ties with the Defense of Liberty conservative PAC, forcing an event with Donald Trump to be canceled. Their fake rational was the following violation of terms of service: "Per our terms of service, we are unable to process for hate, violence, racial intolerance, terrorism, the financial exploitation of a crime, or items or activities that encourage, promote, facilitate, or instruct others regarding the same.” Obviously, the real reason WePay cut ties is because JP Morgan and WePay hate Trump.

 

JP Morgan pulled ads from the Megyn Kelly Show because Megyn Kelly interviewed Alex Jones.

 

Jamie Dimon is a race-monger who says, “It’s long past time that society addresses racial inequities in a more tangible, meaningful way."

 

Committed to OneTen, AKA hire based on race over merit.

 

Chase Bank reportedly planned to close the credit card account of Michael Flynn, stating that “continuing the relationship creates possible reputational risk to our company.” Later, a Chase spokesperson claimed that they had “made an error and apologized for any inconvenience caused” but the initial cancel culture act is inexcusable and cannot be ignored. They obviously wanted to cancel Michael Flynn but feared blowback.

 

THE GOOD:

JP Morgan Chase has no redeeming qualities.

 

THE BOTTOM LINE:

Do not do business with Chase Bank, JP Morgan investments, WePay, or One-Equity Partners. If posible, don't do business with companies that partner with JP Morgan Chase, in particular, brokers who use JP Morgan Chase as their custodial bank. If you use Zach's, Interactive Brokers, or Schwab, then don't leave a lot of cash sitting in your brokerage account (because JP Morgan is the custodian of your cash). Move it to your bank.

 

 

PRIVATELY HELD BROKERAGE ALTERNATIVES:

1. FirstTrade - If you don't mind a privately held brokerage, then consider FirstTrade. They use BMO Harris Bank as their custodial bank -- not JP Morgan Chase or other bank that we boycott, however BMO Harris Bank joined StopHateForProfit.

Otherwise, their custodial bank is middle of the road as far as political donations, slightly favoring Republicans.

 

MAJOR BROKERAGE ALTERNATIVES:

j = Indicates that broker uses JP Morgan Chase as custodial banker (of cash in your account)

NOTE: All of the major brokerages are offensive to one degree or another. These are the least offensive brokers:

1. j Zachs Trade - Essentially uses Interactive Brokers LLC, to provide custodial banking through JP Morgan Chase. If you use Zachs Trade, in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your account. Either invest it or transfer it to your Comerica bank account. Zachs Trade mirrors what InteractiveBrokers does as far as ESG goes. We rate Zachs Trade as a slightly better choice than both InteractiveBrokers and Charles Schwab.

 

2. j InteractiveBrokers - InteractiveBrokers is a mixed bag. On the bright side, their employees and PAC's have a stellar donation record. A solid 87.6% of donations went to Republicans in 2020. However, IB uses JP Morgan Chase (a "worst" company) as their custodial bank. InteractiveBrokers also uses ESG to rate investable companies. At least, so we are told, they do not use ESG to rate their own customers, as Merrill Lynch does. If you use InteractiveBrokers, then in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your account. Either invest it or transfer it to your Comerica bank account. Also, do not open a bank/checking account with IB, which would further patronize JP Morgan Chase. We rate InteractiveBrokers as a slightly better choice than Charles Schwab, and a much much better choice than Merrill Lynch.

 

3. j Charles Schwab - Schwab is a mixed bag. On the bright side, Schwab employees and PAC's have a solid donation record (84% to Republicans). On the downside, Schwab uses JP Morgan Chase as their custodial bank (when you park cash in your account). If you have an existing Schwab account, tell them to STOP using JP Morgan Chase. Also, if you use Schwab, then in order to mitigate business with JP Morgan Chase, don't leave a lot of cash sitting in your Schwab account. Either invest it or transfer it to your Comerica bank account. Also, do not open a bank/checking account with Schwab, which would further patronize JP Morgan Chase. We also note that Schwab charitable suddenly cut off donations to the NRA. If you are a staunch gun supporter, then you might want to skip doing business with Schwab.

 

MAJOR BANK ALTERNATIVES:

1. For banking/checking, you can use a credit union or any regional bank that is apolitical.

 

2. fist Commerica Bank is not perfect, but it may be the least offensive larger bank. At least they're not attacking Trump, etc.

 

ECOMMERCE, FUNDRAISING ALTERNATIVES:

 

1. Use AlignPay, GabPay (coming in late 2021), GiveSendGo, Subscribestar, and support sending and receiving bitcoin)

 

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