10:59 AM EST, 01/22/2025 (MT Newswires) -- Goldman Sachs Group ( GS ) and JPMorgan Chase ( JPM ) are under pressure from activist groups to abandon or trim their diversity, equity and inclusion practices, The Wall Street Journal reported Wednesday, citing people familiar with the matter.

Bank of America ( BAC ) and Citigroup ( C ) are also facing pressure from activists for allegedly discriminating against clients over their religious or political beliefs, the report said.

The groups include the National Center for Public Policy Research, the National Legal and Policy Center and the Heritage Foundation, which argue that the banks' practices leave them and their stockholders vulnerable to expensive legal battles, the report said.

In an email to MT Newswires, a Bank of America ( BAC ) spokesperson cited a proxy statement in early 2024 saying the bank "does not make decisions regarding its client relationships on the basis of any client's political viewpoint, religious affiliation or other discriminatory characteristics."

The proxy for this year hasn't been released yet, Bank of America ( BAC ) said.

Citigroup ( C ) declined to comment. Goldman, JPMorgan ( JPM ) and the activist groups didn't immediately respond to requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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