Newly disclosed documents emerge amid $5 billion lawsuit against nation’s largest bank and its CEO.
By yourNEWS Media Newsroom
JPMorgan Chase closed bank accounts belonging to President Donald Trump and the Trump Organization in February 2021, roughly one month after the events of January 6, according to new court documents reveal.
id5975152-d3f14705-1d7b-4602-a85e-da651b03b04e by yourNEWS Media
The disclosure surfaced as part of a $5 billion lawsuit filed by President Trump against JPMorgan Chase and its CEO, Jamie Dimon. The filings state that the bank notified Trump and his businesses through a series of letters that their accounts would be closed, but did not provide a specific explanation for the decision.
One letter cited the bank’s right to determine that continuing a relationship with a client may no longer serve its interests.
President Trump has argued that the move was politically motivated. A spokesman for Trump described the newly disclosed documents as “a devastating concession that proves President Trump’s entire claim,” adding that the bank “admitted to unlawfully and intentionally de-banking President Trump, his family, and his businesses, causing overwhelming financial harm.”
Trump’s legal team contends that JPMorgan acted because of “‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views.” The lawsuit states, “In essence, [JPMorgan Chase] debanked Plaintiffs’ Accounts because it believed that the political tide at the moment favored doing so.”
JPMorgan Chase denies any wrongdoing in the matter.
Since returning to office, President Trump has prioritized reforms aimed at preventing what he describes as political weaponization within the financial system. In August 2025, he signed an Executive Order titled “Guaranteeing Fair Banking for All Americans,” which accused certain financial institutions of engaging in “unacceptable practices” and directed federal agencies to ensure that banking services are not withheld based on political or religious beliefs.
The issue of so-called political debanking has also drawn scrutiny from federal regulators. In December, Infowars reported that a watchdog review by the Office of the Comptroller of the Currency found nine U.S. banks engaged in politically influenced account restrictions.
According to the OCC report, the institutions — Bank of America, BMO Bank, Citibank, Capital One, JPMorgan Chase Bank, PNC Bank, TD Bank, Wells Fargo Bank and U.S. Bank — maintained public and nonpublic policies between 2020 and 2023 that limited access to financial services for certain industry sectors.
“To date, the OCC has observed that between 2020 and 2023, the banks maintained public and nonpublic policies restricting certain industry sectors’ access to banking services,” the report states. “Many industry sectors were restricted based primarily on how it might appear to the public if the bank provided access to financial services to these sectors.”
The report said that sectors subject to heightened political or media attention were more likely to face restrictions. Those included the firearms industry, oil and gas businesses and political action committees.
“At least two banks highlighted ‘polarizing’ or ‘polarized’ public opinion surrounding individual gun ownership rights and gun control as part of the basis for their firearms restrictions,” the OCC found.
Regarding political committees and party-related financial activity, the report stated that “several banks, or lines of business within certain banks, restricted lending and other financial services to individuals or entities for the benefit of a political candidate or parties in support of a campaign effort.”
The lawsuit between President Trump and JPMorgan Chase remains ongoing as the broader debate over political neutrality in banking continues.
Original article
Comments