While JPMorgan Chase does make political donations to inaugurals and other things, CEO Jamie Dimon said he declined to contribute to the new White House ballroom.
He said the "risk" and perception of "buying favors" was too great.
His global financial company has too much money at stake in the age of cancel culture and political division, Dimon said.
"You have to look at JP — we have an issue, OK — which is anything we do, since we do a lot of contracts with governments here and around the world — we have to be very careful how anything is perceived," Dimon told CNN in a wide-ranging interview Wednesday night.
Dimon said the company avoids actions that could appear as "buying favors" or create reputational risk with the Department of Justice or other government agencies.
"We don't do certain things because it just makes it easier for us," he said, noting that while JPMorgan has supported traditional activities like inaugurations, the bank now evaluates such contributions more cautiously.
"We're quite conscious of the risk we bear by doing anything."
Eric Mack ✉
Eric Mack has been a writer and editor at Newsmax since 2016. He is a 1998 Syracuse University journalism graduate and a New York Press Association award-winning writer.
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