JPMorgan Chase Debanks Former V.I. Senator, Contrary to Trump Executive Order, He Says

Former V.I. Sen. Wayne James, who was convicted on wire fraud charges in 2018 and served 30 months in prison, says JPMorgan Chase recently “debanked” him despite an Aug. 7 Executive Order by President Donald Trump aimed at ending the practice of closing customer accounts for a person’s political or religious beliefs.

The notice comes as James has waited more than a year for a ruling on his appeal of his conviction in V.I. District Court.

Trump’s order directed federal regulators to end “reputation risk” as a standard in banking supervision, but on July 1 JPMorgan Chase told James in a letter that, “After careful consideration, we have decided to close your accounts because of your connection to a publicly reported financial investigation that could potentially lead, or has led, to a criminal or civil action.”

James, born on St. Croix, has been a high fashion designer who created garments for Pope Paul II, Queen Margareth of Denmark and Diana, the late princess of Wales. Ebony Magazine recognized him as a “foremost black designer” in 2004. He is also an attorney, historian, has written several books and directed a documentary film.