CAIR-NY Calls on New York City Banking Commission to Exclude JPMorgan Chase, Citibank as Depository Banks Over Discriminatory Banking and Lending
Credit: Unsplash/Joshua Lawrence
(NEW YORK, NY, 05/25/2023) - The New York chapter of the Council on American-Islamic Relations (CAIR-NY) today presented testimony before the NYC Banking Commission urging the exclusion of JP Morgan Chase and CitiBank as potential depository banks.
CAIR-NY's Legal Director, Ahmed Mohamed, Esq., provided the testimony focused on the matter of considering JPMorgan Chase and Citibank as potential depository banks for the City of New York. CAIR-NY urged the Commission to exclude these two financial institutions from the selection process due to numerous allegations of discriminatory banking and lending practices.
CAIR-NY urged the New York City Banking Commission to recognize the importance of holding financial institutions accountable for their actions. The organization called upon the Commission to prioritize banks that have demonstrated ethical practices, social responsibility, accountability, and transparency.
In a statement, CAIR-NY's Legal Director, Ahmed Mohamed, Esq., said:
“CAIR-NY believes that access to the financial industry and banking is a fundamental human right. We urge the New York City Banking Commission to recognize the importance of holding financial institutions accountable for their actions. JP Morgan Chase and Citibank have reportedly systematically discriminated against American Muslims and ought to be rejected as potential depository banks.
In recognition of the City’s commitment to ensuring equal access to financial services, we urge the NYC Banking Commission to prioritize institutions that uphold fairness, non-discrimination, and transparency.”
CAIR-NY's mission is to protect civil rights, enhance understanding of Islam, promote justice, and empower American Muslims.
La misión de CAIR-NY es proteger las libertades civiles, mejorar la comprensión del Islam, promover la justicia, y empoderar a los musulmanes en los Estados Unidos.
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CONTACT: Afaf Nasher, Esq., CAIR-NY Executive Director, 917-669-4006, anasher@cair.com; Ahmed Mohamed, CAIR-NY Legal Director, 646-481-2103, ahmedmohamed@cair.com