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We’re Calling You Out, JPMorgan Chase
Last week I learned that JPMorgan Chase donated $500,000 to the Southern Poverty Law Center and I was disgusted. I’ve been writing for weeks that we need to speak out against foolish and dangerous Leftist activities. Well, my husband and I have accounts at Chase, and I had to speak up. I doubt that the following letter will have an impact, but if we don’t take a stand in our own lives, we have no reason to complain about the state of the United States. Here is what I wrote:
Dear Mr. Dimon,
I was extremely disappointed to learn that Chase, where we have been banking for over ten years, has decided to donate $500,000 to the Southern Poverty Law Center. There are several reasons for my concern, as described in an op-ed piece by Kimberley Strassel in the Wall Street Journal. That essay may be found here:
Your decision indicates to me the following:
- J.P. Morgan Chase is prepared to finance a far-left organization that bases its list of “hate groups” on political hatred of those on the conservative Right. Either you did not do your homework on this group before your donation, or your company has no problem demonstrating your support of Leftist politics.
- The SPLC has created a list of 917 organizations without any supporting data for labelling them hate groups.
- Their list includes the Family Research Council, the Center for Security Policy, and the Center for Immigration Studies, all mainstream organizations.
I don’t expect Chase to support conservative organizations, but I do expect you to at least support non-partisan organizations. There are many non-profit organizations that would benefit from your generosity.
As a result, my husband and I are asking you to rescind your donation to SPLC. If that doesn’t happen within 30 days, we will move our accounts to a different financial institution. If you would like to discuss this matter further, you may reach us at —
For those of you reading this OP, feel free to lift any part of this letter and use it in your own emails to those organizations that need to hear from you.
Have any of you taken similar steps?
Published in Politics
I have both personal and business accounts with them – the business accounts are no small matter. Would be difficult and time consuming to move (lots of linked e-payment issues), but could be accomplished over a period of about 8 weeks. Will definitely mull this one over.
Have you dumped your Apple Iphones, Ipads and computers?
Fortunately I don’t have any of those.
We also have a United Airlines credit card through Chase. Yeah, we get points. I’m going to have to figure out if there’s a way around going through them.
I’m afraid that you would be dismayed at how much corps and banks donate (for tax purposes) to causes and such. That banks can do so and get a tax break and we bailed ’em out. . .
I participated in a focus group once, dealing with banking. Most of the participants did not like their bank, but they did not change banks because it’s too hard. Many banks and credit unions have special procedures for new customers to help them with all the rigmarole. Shop your business around, and see if any institutions in your area might do this.
I don’t know if you could have any computing device and not be stung by the Left, but banks are a dime a dozen.
A better response would be to withdraw all accounts and find you a good local bank.
I am a JPM shareholder AND bondholder AND brokerage account holder.
Not surprised in what Apple is doing, but quite surprised and disappointed by the JPM action, given that Jamie Dimon is a pretty coherent thinker as demonstrated in his shareholder letters and otherwise.
Will definitely be communicating with them about this ridiculousness.
You understand that’s what we’ll be doing, Robert. Maybe you were speaking to others.
I just sent the following to JPM Investor Relations:
I am a JPMorgan shareholder and bondholder, and also have a JPM brokerage account.
Extremely disturbed by your decision to make a contribution to the ‘Southern Poverty Law Center.’ This entity is in my view a smear group, whose activities are quite similar to some of the darkest things that went on in the McCarthy era.
This donation represents very bad corporate citizenship, and it is also a truly stupid business decision, which will alienate a significant part of your customer and investor base and tarnish your brand. Regarding the latter, see the title of Kimberly Strassel’s recent WSJ article: “JP Morgan’s hate list.” An appropriate title, IMO, given what SPLC actually is and JPM’s truly unwise decision to support them.
I strongly urge you to reconsider this matter.
David Foster
(address)
I was just thinking @hangon: if a person has already bought their equipment, they’re not really contributing to Apple, are they? I would certainly encourage people to switch when it’s time to replace their equipment, but the ISPs are the ones serving the customers after purchase. Correct me if I’m wrong.
I’m sure you’re right, MLH. If they’re donating to political campaigns, they often donate to both sides and it’s less public. Someone decided to make a big deal of this one. It would be interesting to know if it was Chase or the media.
Gosh, David, I wish you’d written my letter! Well done. Thank you for speaking out.
For those of you who aren’t willing to leave your companies, I understand. It will be a pain in the neck for us to move our accounts. But just writing a letter to a company who had acted so poorly is a big deal. Please consider doing so if you are working with a company that has done so.
This isn’t surprising, I’m sure there are some donations on JPMCs balance sheet that liberals wouldn’t like either. The question for me in these situations is: do they provide decent banking services. My experience with JPMCs retail operation is: nope.
I know they’ve done some controversial things over the last two years. Is that what you’re referring to, Jamie?
If you’d like to see the SPLC’s hate map and the explanations of those on it listed underneath, go here .
BTW, @jamielockett, how does this choice to not benefit Chase differ from your decision about your alumni organization? Just wondering . . .
Only in that JPMC provides a service while my alumni organization is more akin to voluntary club/charity. I’m not saying those of you who believe strongly in this shouldn’t pull your business, in fact quote the opposite! I just use a different calculus is all.
No problem. I appreciate your explaining. Thanks.
Oh for pity’s sake: they list the Border Patrol as a hate group. anti -Immigration donchyaknow?
I haven’t really looked at it yet, MLH. I figure I’ll either be screaming with laughter or just screaming!!
The others I clicked: about 50/50 legit to made up. But it does look like any group pro-Israel or Christian is a hate group in their books.
Give them heck Susan. If you need a place to put your money may I suggest under my mattress.
PH, thanks for the encouragement. About your mattress . . .
I think this is a good idea. Anything we can do to incentivize change is good (in the right direction of course). I think that it’s time for the right to realize that good products aren’t enough to make a company good. The company must also have good morals as well. We need to move towards making companies stop donating for tax reasons and start being what they are, businesses. The idea that a business would donate to a charity is nonsense with only one exception, advertising.
Personally, I think it is time to eliminate the charitable deduction in its entirety. The government should not be responsible for deciding what speech is worth a tax break (think IRS tea party scandal). People will donate as their hearts desire with or without a tax break, maybe without they will actually pay attention to where their unsubsidized money goes.
Good for you sweet @susanquinn ! You are, as usual, an inspiration for the right thing to do. You go girl!
In the new political alignment, advocates of larger government and restricted freedoms now include corporate executives. Some are liberals, some think they are buying peace and immunity, most just want dinner party/ country club kudos for being PC.
The left goes after their targets on a personal basis to destroy careers. I don’t think it is in the nature of conservatives to emulate that.
Leftists would have no qualms about making Dimon afraid to appear in public and afraid for his family for having violated their preferences. Direct payment to the worst elements on the left probably seems like a good play from his point of view.
Now you’re making me blush. Thanks GWW.