JPMorgan Chase
Flagged · AvoidLargest U.S. bank by assets and the world's leading financier of fossil fuels.
Last updated June 14, 2026
↓ Skip to 6 ethical alternativesReasons to avoid
Issues span:EnvironmentHuman RightsConsumerTax
- JPMorgan Chase is the world's largest financier of fossil fuels since the Paris Agreement, committing over $430 billion to fossil fuel companies since 2016 — including $53.5 billion in 2024 alone.
- JPMorgan Chase paid $290 million to settle claims by over 100 of Jeffrey Epstein's sex-trafficking victims. A federal judge found the bank knowingly kept Epstein as a client for more than 15 years despite documented evidence of his crimes.
- The bank paid a record $13 billion settlement for knowingly selling toxic mortgage-backed securities to investors before the 2008 financial crisis, causing massive losses to pension funds and ordinary investors.
- JPMorgan Chase entered a deferred prosecution agreement and paid $920 million in fines after its precious metals traders were found to have engaged in a decade-long spoofing scheme — placing and canceling fake orders in gold, silver, and other markets tens of thousands of times.
- The bank paid $55 million to settle a DOJ lawsuit finding that Black and Hispanic borrowers were charged on average $1,000 more in mortgage fees than comparable white borrowers between 2006 and 2009 — affecting roughly 50,000 minority customers.
- JPMorgan Chase admitted to violating the Bank Secrecy Act and paid $461 million to FinCEN after failing to report suspicions about Bernie Madoff's Ponzi scheme — even after alerting British regulators — while quietly redeeming $275 million of its own investments from Madoff feeder funds first.
- A ProPublica investigation found JPMorgan Chase wrongly charged overdraft fees to 170,000 customers due to a software glitch — billing customers who ended the day with a positive balance — and that federal regulators declined to penalize the bank, issuing only a private letter.
Ethical alternatives
Banking
Local Credit Unions
Member-owned, not-for-profit institutions with better rates and community focus.
📍 Local Business👥 Community Driven
Visit →
Climate First Bank
A B Corp and Fossil Free Certified bank offering checking and high-yield savings you can open online nationwide, with deposits kept out of fossil fuels.
✅ B-Corp
Visit →
Beneficial State Bank
B-Corp certified bank focused on social and environmental responsibility.
✅ B-Corp♻️ Sustainable
Visit →
Amalgamated Bank
Union-owned bank with strong commitment to social justice and sustainability.
✊ Unionized✊ Worker Owned
Visit →
Carver Federal Savings Bank
Oldest African American-operated bank in the U.S., serving underserved communities since 1948.
🖤 Black Owned👥 Community Driven
Visit →
As You Sow
A free nonprofit tool that screens any mutual fund, ETF, or 401k for fossil fuels, weapons, and other concerns, so you can see what your investments actually hold.
💚 Non-Profit📚 Free Resource
Visit →Common Questions
- Is JPMorgan Chase ethical?
- JPMorgan Chase is the world's largest financier of fossil fuels since the Paris Agreement, committing over $430 billion to fossil fuel companies since 2016 including $53.5 billion in 2024. A federal judge found the bank knowingly kept Jeffrey Epstein as a client for more than 15 years despite documented evidence of his crimes, resulting in a $290 million settlement with over 100 sex-trafficking victims.
- Why should I avoid JPMorgan Chase?
- JPMorgan Chase paid a record $13 billion for selling toxic mortgage-backed securities before the 2008 financial crisis and $55 million to settle a DOJ suit for charging Black and Hispanic borrowers on average $1,000 more in mortgage fees than comparable white borrowers. The bank also paid $461 million after failing to report Bernie Madoff's Ponzi scheme while quietly pulling its own investments out first.
- What are the best ethical alternatives to JPMorgan Chase?
- Local credit unions are member-owned and not-for-profit with better rates and lower fees. Amalgamated Bank is union-owned with a strong social justice commitment. Climate First Bank and Beneficial State Bank are B Corp certified and keep your deposits out of fossil fuels.