JPMorgan Chase is refusing to comment on the allegation that it canceled former White House National Security Adviser Lt. Gen. Michael Flynn’s credit cards due to “reputational risk.”
“After careful consideration, we decided to close your credit cards on September 18, 2021 because continuing the relationship creates possible reputational risk to our company,” according to an alleged photograph of a letter from the bank dated August 20. “You may receive additional account closing notifications if you have other accounts under a different name or address.”
Images of the letter began circulating on social media after they were shared by Tracy Diaz, a member of the South Carolina Republican Party’s executive committee. Diaz subsequently removed the message, saying there was a “miscommunication about wanting that information public.”
However, shortly after the letter began circulating online, Flynn posted a message to his followers on Telegram, writing, “Chase Bank has gone full blow woke! They need to deal with their own reputation instead of persecuting my family and I.” He included a link to a Justice Department website detailing a $920 million settlement JPMorgan agreed to pay over allegations of fraud.
“We are declining comment,” a spokesperson for the bank told Mediaite in response to a request to weigh in on the matter.
It’s the second time this month JPMorgan Chase has made headlines for closing accounts over alleged concerns about “reputational risk.” A week before the notice sent to Flynn, Compass Mining CEO Whit Gibbs announced the bank had inexplicably frozen accounts that belonged to his bitcoin mining company. “Shoutout to Chase for shutting down Compass Mining accounts for doing our part to replace the old guard with self-sovereign, future-focused supporters of hard money,” Gibbs wrote on Twitter.
Gibbs said the company had conveyed weeks earlier that it was “reviewing” Compass accounts for a potential upgrade.