JP Morgan Chase has closed the accounts of Dr. Joseph Mercola’s Florida-based retail health company, its CEO, CFO, and their respective families without offering any explanation.
The firm, Mercola Market, deals in a diverse range of natural health products. Dr. Mercola vocalized his astonishment over Twitter, claiming Chase Bank had inexplicably shut down the business and personal bank accounts associated with the company, despite the longest-serving account being active for over 18 years.
Mercola, widely recognized for his vocal opposition to the government’s handling of Covid-19, authored “The Truth About COVID-19.” His contentious perspective earned him a reputation as a “misinformation superspreader,” as per a New York Times documentary.
The sudden closure potentially breaches a recently instituted Florida law aimed at safeguarding citizens from corporatist influences in the realm of environmental, social, and corporate governance (ESG). This law prohibits financial institutions from denying or revoking services based on an individual’s political or religious beliefs.
Steven Rye, the CEO of Mercola Market, shared his conviction that the shutdown was a repercussion of Dr. Mercola’s stance on the pandemic. Chase, on the other hand, vaguely cited “legal reasons” for their action, leaving Rye and others, including those who were dependent on these accounts for essential transactions, in a state of uncertainty and financial turmoil.
Despite the abrupt shutdown, a Chase Bank representative assured Rye that attempts would be made to reconsider the decision, acknowledging him as a “good client.” The ambiguity of the situation has sparked concerns among other clients, and Dr. Mercola’s story has resonated with other conservative voices on Twitter who claimed to have experienced similar treatment from ESG-focused banks.