Kanye West confused about banks, Apple Pay, and FCC

As part of his candidacy for President, Kanye West is demanding that the FCC needs to investigate his bank after Adidas allegedly "froze his money," and disabled his Apple Pay.

According to West, after Adidas cut off business with him, they managed to freeze his money by petitioning JP Morgan Chase to do so. After finding that his Apple Pay didn't work, repeatedly, he said he looked into why.

Reportedly, Adidas put a $75 million hold on four of his bank accounts. This, in turn, likely caused Apple Pay to not work because of a lack of funds.

Bizarrely enough, West claimed this was the reason he'd be running for president — again.

"The reason why I'm announcing that I'm running for President is I want the FCC to look at my money. If the FCC was looking at my money, there would be a possibility that Adidas wouldn't have went into JP Morgan Chase and froze my account and put a $75 million hold on four different accounts," West told RadarOnline.

Even if his claims are true about Adidas clawing back money from the bank, it's not clear who exactly West is referring to in his bid for the Presidency. While West claims that he wants the FCC — the Federal Communications Commission — to look into the matter, they can't help.

The matter would likely not fall under the Federal Trade Commission either. Most likely, if the bank is acting improperly — and it's not clear that they are — it would fall under the purview of the Office of the Comptroller of the Currency (OCC) that regulates national banks.

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23 Comments

Xed

said about 1 year ago

This individual isn't mentally sound. Of all the famous people I can think of, he needs a conservatorship.

DAalseth

said about 1 year ago

Xed said:

This individual isn't mentally sounds and needs a conservatorship.

Reminds me of Howard Hughes in the last few years. Mad as a hatter, but able to afford enough attorneys and toadies to cover over his behaviour and to allow him to not get the mental help he desperately needs. I suspect that West will end up the same way Hughes did.

Xed

said about 1 year ago

DAalseth said:

Xed said:

This individual isn't mentally sounds and needs a conservatorship.

Reminds me of Howard Hughes in the last few years. Mad as a hatter, but able to afford enough attorneys and toadies to cover over his behaviour and to allow him to not get the mental help he desperately needs. I suspect that West will end up the same way Hughes did.

I agree with Trevor Noah on this. We can laugh, but at the core this is someone with mental health issues getting a platform instead of the help they need, which is unfortunate.

https://www.tiktok.com/@thedailyshow/video/7156940792953654570

The problem with catering to mentally ill individuals with wealth is there are rarely any people in their lives that aren't simply out for their money. Besides West and Hughes, another prominent example is Sarah Winchester. That house is very close to Apple's HQ.

https://en.wikipedia.org/wiki/Winchester_Mystery_House

On the other side of the spectrum, but still the same catalyst, is when predatory people with power and wealth are being protected by others for personal gain. R. Kelly comes to mind. This shit doesn't happen in a vacuum.

https://www.bbc.com/news/entertainment-arts-58556274

ravnorodom

said about 1 year ago

Rich and mentally wealthy idiot. He's along the same line of Anna Sorokin, Elizabeth Holmes and Trevor Milton.

mikethemartian

said about 1 year ago

AppleInsider said:

As part of his candidacy for President, Kanye West is demanding that the FCC needs to investigate his bank after Adidas allegedly "froze his money," and disabled his Apple Pay.

According to West, after Adidas cut off business with him, they managed to freeze his money by petitioning JP Morgan Chase to do so. After finding that his Apple Pay didn't work, repeatedly, he said he looked into why.

Reportedly, Adidas put a $75 million hold on four of his bank accounts. This, in turn, likely caused Apple Pay to not work because of a lack of funds.

Bizarrely enough, West claimed this was the reason he'd be running for president -- again.

"The reason why I'm announcing that I'm running for President is I want the FCC to look at my money. If the FCC was looking at my money, there would be a possibility that Adidas wouldn't have went into JP Morgan Chase and froze my account and put a $75 million hold on four different accounts," West told RadarOnline.

Even if his claims are true about Adidas clawing back money from the bank, it's not clear who exactly West is referring to in his bid for the Presidency. While West claims that he wants the FCC -- the Federal Communications Commission -- to look into the matter, they can't help.

The matter would likely not fall under the Federal Trade Commission either. Most likely, if the bank is acting improperly -- and it's not clear that they are -- it would fall under the purview of the Office of the Comptroller of the Currency (OCC) that regulates national banks.

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For nationality chartered banks the OCC is the primary regulator since they grant the charter. The Federal Reserve and FDIC are also regulators for national banks and have the right to examine them but usually the OCC takes the lead. They all share their exam reports with each other.