Chase Cancels Kanye West, But Should Banks Engage in Culture Wars?
THE FINANCIAL BRAND
JPMorgan Chase sent a letter to Kayne West, giving him 60 days to close his accounts and take his business elsewhere. While the bank hasn’t publicly stated a reason, experts point to several cases of banks cutting ties with controversial figures based on «reputation risk.» Banks have a right to close accounts for any reason, but taking sides in the culture wars may put their own reputation at risk.
