Kanye’s Bank JP Morgan Chase Cuts Ties with Yeezy Brand: Report

Kanye will reportedly have to find another bank to house his Yeezy brand, gossip site TMZ reports Wednesday (Oct. 12).

Candace Owens, the controversial news personality who was seen wearing with Kanye last week, tweeted that the rapper will have to find another bank for his fashion empire.

"Earlier today I learned that @kanyewest was officially kicked out of JP Morgan Chase bank," the news personality wrote to Twitter Wednesday (Oct. 12) with a photo of the attached bank letter. "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."

The letter itself suggests the decision is final between the bank and Ye. The Yeezy founder will have until exactly November 21 to transfer his business to another bank.

Like Owens stated in the aforementioned tweet, JP Morgan Chase has not given out a statement as to why they have officially decided to cut ties with the rapper. However, it is likely due to the backlash Ye has received this past week for his antisemitic remarks.

The rapper first used the hate speech in a text conversation with Diddy and later on Twitter. Both posts have since been deleted and the Yeezy founder's social media accounts on both sites have been restricted until further notice.

Because of his use of hate speech, the rapper's appearance on LeBron James' HBO show The Shop has been axed due to him continuing to spew hatred towards the Jewish community during his taped interview.

"Yesterday we taped an episode of The Shop with Kanye West. Kanye was booked weeks ago and, after talking to Kanye directly the day before we taped, I believed he was capable of a respectful discussion and he was ready to address all his recent comments. Unfortunately, he used The Shop to reiterate more hate speech and extremely dangerous stereotypes," SpringHill Company CEO and host Maverick Carter said in a statement to Andscape.

Kanye's racist remarks got the attention of the Holocaust Museum in Los Angeles, and they offered Ye a private invite to teach him how his comments have affected the Jewish community.

"Words matter and words have consequences Ye," the museum wrote in an Instagram Story, per HipHopDX. "We urge you to come visit us at Holocaust Museum LA to understand just how words can incite horrific violence and genocides."

Kanye has yet to respond to the museum's invitation publicly.

Kanye has responded to the backlash over his "White Lives Matter" shirt he wore to his YZY SZN 9 collection that debuted in Paris Monday (Oct. 3).

The Yeezy founder wore a "White Lives Matter" t-shirt that made rounds on social media.
The rapper additionally posed for a photo next to Candace Owens in matching "White Lives Matter" shirts, which featured an image of Pope John Paul II on the front. The conservative commentator reposted the photo to her Twitter account.

Various models, including Lauryn Hill’s 23-year-old daughter Selah Marley, also wore the shirt on the runway which also made the emcee trend alongside West and Owens.

"Everyone knows that Black Lives Matter was a scam," Ye wrote on his Instagram Story per HipHopDX referencing the multi-million dollar financial scandals of the organization. "Now its over[.] You’re welcome."

The backlash was not well received by celebrities such as Jaden Smith, rapper Boosie and Hollywood Unlocked's Jason Lee.

“I Had To Dip Lol,” tweeted Smith after leaving the Yeezy Season 9 show in protest. “True Leaders Lead. I Don’t Care Who’s It Is If I Don’t Feel The Message I’m Out. Black Lives Matter. We Demand A More Progressive Future.”

"@kanyewest AFTER ALL WE BEEN THROUGH AS A RACE YOU PUT THIS DISRESPECTFUL S--- ON!!" Boosie wrote on Twitter. "U GIVES NO F---- ABOUT HOW BLACKS HAVE DIED N SUFFERED TO THE HANDS OF THE WHITE MAN N U SAY BUSH DON’T LIKE BLACK PEOPLE…REALLY N----."

Hollywood Unlocked founder-CEO Jason Lee, who was appointed West’s head of media and partnerships in March, announced he no longer works with the rapper because of this recent incident.

"Very humble and thankful to Ye for the opportunity to work with him but that part of our relationship has come to an end," he wrote next to the aforementioned photo of Kanye and Candace Owens on his Instagram Stories per HipHopDX. "And I don’t support this."

The Black Lives Matter organization also commented on Kanye's controversial stunt.

"While some may see Kanye and Candace's stunt as a distraction, we recognize that it harms thousands of families fighting for justice for their loved ones killed by state-sanctioned violence," the organization told TMZ.

They described Ye's and Owen's stunt as "toxic confusion" and that it is "used to legitimize violent assaults on Black people."

"Kanye knows very well that 'white lives' have never been targeted for oppression," the organization continued. "Black folks, in contrast, are at the bottom of virtually every economic, social, and political measure because of centuries of individual and institutional racism."

BLM responded to Ye's "scam" claim in disagreement and says that the movement will help Black people because "when Black people get free, everybody gets free."

Take a look at the backlash Ye has gotten for his "White Lives Matter" shirt: