Kanye West will need to find a new bank for his Yeezy empire because his banking relationship with JPMorgan Chase has reached the finish line.
West’s account will close by Nov. 21, 2022: The news first swirled when Candace Owens shared a statement that made it clear that the banking giant will be closing Kanye West’s accounts by Nov. 21.
“JPMorgan Chase Bank, N.A (the “Bank”) has decided to end its banking relationship with Yeezy, LLC and its affiliated entities (collectively, the “Company”). 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,” the statement read.
West encouraged to prepare for closure: The statement also advised West not to make any transactions five days before the scheduled closure date to avoid any delays and prompted the Yeezy founder to find a new institution in preparation.
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
West responds to JPMorgan Chase: West has responded and confirmed the ending of his banking relationship with JPMorgan during a screening of Candace Owens’ new documentary on Wednesday, Oct. 13.
“Hey, if you call somebody out for bad business, that means you’re being anti-Semitic. I feel happy to have crossed the line of that idea so we can speak openly about things like getting canceled by a bank,” West said, according to Page Six.
As AfroTech previously told you, West’s partnership with Gap is coming to a close, eight years early. He claims the retailer did not uphold their end of the bargain, such as opening Yeezy stores by 2023.
“It’s time for me to go it alone,” West told Bloomberg. “It’s fine. I made the companies money. The companies made me money. We created ideas that will change apparel forever. Like the round jacket, the foam runner, the slides that have changed the shoe industry. Now it’s time for Ye to make the new industry. No more companies standing in between me and the audience.”