JP Morgan Chase Severs Ties With Kanye West

The BBC reported that the US financial giant JP Morgan Chase is severing ties with the rapper and designer Kanye West, who now goes by the name Ye, and his Yeezy brand. Additionally, a letter from the bank informing West of the decision posted by a conservative commentator on Twitter revealed the news. Furthermore, Twitter and Instagram suspended the accounts of Kanye West over the weekend due to his posting anti-Semitic remarks. According to the BBC, JP Morgan sent the letter on September 20. Therefore, it was before West's most current scandals. Moreover, the bank gave West until November 21 to transfer his business in the letter. JP Morgan Chase declined a request for comment by BBC. Previously, West took to social media to criticize JP Morgan's management and claim that the bank denied him access to the bank's CEO, Jamie Dimon. In September, he informed Bloomberg that he was breaking off relationships with his business partners and that "it's time for me to go it alone."

Earlier today I learned that @kanyewest was officially kicked out of JP Morgan Chase bank. I was told there was no official reason given, but they sent this letter as well to confirm that he has until late November to find another place for the Yeezy empire to bank. pic.twitter.com/FUskokb6fP

— Candace Owens (@RealCandaceO) October 12, 2022

Additional details JP Morgan's action comes at a time when West's business partnerships have come under increased scrutiny. Days after he debuted a "White Lives Matter" T-shirt design at Paris Fashion Week, sportswear company Adidas indicated last week that it was evaluating its agreement with Kanye West. The company remained tight-lipped about the controversy but stated,  "Successful partnerships stem from mutual respect and shared values." Also, Read- St. Louis Is the Most Dangerous US City, Study On the other hand, West retaliated against the company on Instagram, accusing it of "stealing" his designs. But, it appears that the post was removed. Adidas informed the BBC that it decided to reassess the partnership following "repeated efforts to privately resolve the situation." "Adidas Yeezy partnership is one of the most successful collaborations in our industry's history," remarked a spokesperson for the German sportswear manufacturer. Additionally, West announced last month that he was discontinuing his partnership with the retailer Gap. He claimed that the business broke the terms of the deal including,  failing to open standalone stores for his Yeezy clothing line.