JPMorgan Chase said on Wednesday that it had discontinued its banking relationship with musician Kanye West’s firm.
Candace Owens got the statement, which was short on facts, on the same day she premiered her new documentary, “The Greatest Lie Ever Sold.”
“We are sending this letter to confirm our recent discussion with [redacted] that JPMorgan Chase Bank, N. A (the ‘Bank’) has decided to end its banking relationship with Yeezy, LLC and its affiliated entities (collectively, the ‘Company’),” the bank said in an email to West. “To provide the Company with sufficient time to transition to another financial institution, we will continue to maintain the accounts (attached as Exhibit A), 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,” the statement continued. “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.”
JPMorgan Chase urged West to “act promptly [to] transfer your business to another financial institution before November 21, 2022.”
The bank invited him to contact them if he had any additional queries.
According to Owens, the bank presented “no official justification” for terminating their partnership with West.
The bank’s decision to cut its connection with West comes as the rapper is in Nashville for the premiere of Owens’ documentary.