Sending an official statement to Ye and his team.
Following weeks of controversial news headlines and negative backlash, JPMorgan Chase has now officially ended its banking relationship with YEEZY. In an official statement sent to Ye and his team, the American multinational investment bank and financial services holding company noted a recent discussion with a redacted entity that led to it deciding to end its banking relationship with YEEZY, LLC and its affiliated entities.
The statement goes on to note that JPMorgan Chase will offer sufficient time to transition to another financial institution, maintaining accounts, including all products and services, until November 21. After the date, YEEZY’s open accounts will be closed, after the deduction of any permissible service charges and pending transactions.
It is currently unclear exactly why JPMorgan Chase has decided to end its banking relationship with YEEZY, but in recent weeks Ye has been critical of his relationship with the financial institution.
Stay tuned for more details as they become available.