JPMorgan Chase bank is under fire. This time the multibillion-dollar financial giant denied opening a bank account for a Black doctor in Sugar Land, Texas.
Dr. Malika Mitchell-Stewart entered a Chase bank to open a new bank account and was told her check was probably fake. News One reported Dr. Mitchell-Stewart filed a racial discrimination lawsuit against JPMorgan Chase bank after employees refused to open an account to deposit a $16,780.16 check.
This is not the first time the financial institution has shown overt racism against people of color. In 2019, former NFL player Jimmy Kennedy also experienced racism while banking at JPMorgan Chase bank.
NY Times reported, researchers for the National Bureau of Economic Research found that black mortgage borrowers were charged higher interest rates than white borrowers and were denied mortgages that would have been approved for white applicants.
JPMorgan Chase's former Black Financial Advisor Ricardo M. Peters claims a white male teller was reluctant to proceed with his transaction beyond asking for identification and his pin number attached to his debit card. He was then told to wait and then an assistant flagged the substantial amount who then escalated it to the manager.