Trump Says JPMorgan, Bank of America Won’t Do Business With Conservatives | Global News Avenue

Large American banks found themselves in the trend on Thursday. After President Trump hinted that the main financial institutions did not allow conservatives to do business with them, Bank of America stated that it did not provide customers with “political test gold stones.”

Trump said at the World Economic Forum: “I hope you start to open banks to conservatives, because many conservatives complain that banks will not allow them to conduct business in the bank, including a place called the Bank of America.” Davos, Switzerland, aimed at Bank of America (Barc) He Morgan Chase (JP Morgan ChaseTo.

The comment was aimed at Bank of the United States CEO Brian Moynihan. The two banks stated in a statement on Thursday that they did not consider political factors when closing their accounts. Morgan Chase urged Washington to adopt new methods to fight financial crimes, while Bank of America pointed out the “extensive” regulations to manage such decisions.

Morgan Chase wrote in a statement: “We have never closed our accounts for political reasons, saying.” “We abide by the guidance of laws and regulators, and have long stated that Washington must solve the existence of the current framework in the current framework for a long time. The question.

JP Morgan CEO Jamie Dimon also discussed the topic on the company’s podcast earlier this week.

A statement from Bank of America wrote: “We provide services to more than 70 million customers, we welcome conservatives.” “We need to comply with extensive government rules and regulations, and sometimes we decide to withdraw from the customer relationship. We never cause it because of Turn off the account for political reasons, and there is no political testing stone. “

KBW Nasdaq Bank Index (Bocke X) The closing of large financial companies on the same day, despite the level below the afternoon transaction. Morgan Chase and Bank of America’s stock price rose more than 1%today.