--- title: "Bank admits closing Trump accounts in lawsuit alleging 'political debanking'" description: "JPMorgan Chase Bank admitted to closing President Donald Trump's accounts following the January 6 Capitol breach, as part of a $5 billion lawsuit alleging political debanking. The bank informed Trump " type: "news" locale: "en" url: "https://longbridge.com/en/news/276527057.md" published_at: "2026-02-22T05:03:58.000Z" --- # Bank admits closing Trump accounts in lawsuit alleging 'political debanking' > JPMorgan Chase Bank admitted to closing President Donald Trump's accounts following the January 6 Capitol breach, as part of a $5 billion lawsuit alleging political debanking. The bank informed Trump and his companies in February 2021 about the account closures, citing standard agreements that allow for termination with notice. Trump's attorneys claim the closures were politically motivated and have accused the bank of trade libel and unfair practices. JPMorgan's CEO, Jamie Dimon, has denied that the bank debanks customers based on political views. JPMorgan Chase Bank recently admitted it closed President Donald Trump's bank accounts following the Jan. 6, 2021, breach of the U.S. Capitol, a confession spurred by a $5 billion legal challenge from the president last month. The suit, brought against the bank and its CEO, Jamie Dimon, in Miami state court, accused the financial institution of debanking Trump for political reasons. In a new court filing, Dan Wilkening, chief administrative officer for global banking at JPMorgan, confirmed that in February 2021, the bank informed Trump and several of his hospitality companies that certain accounts would be closed. Copies of formal letters sent by JPMorgan are dated Feb. 19, 2021. **TRUMP SUES JPMORGAN CHASE AND CEO JAMIE DIMON FOR $5B OVER ALLEGED 'POLITICAL' DEBANKING** Marquee at the main entrance to the JPMorgan Chase Headquarters Building in Manhattan. (Erik McGregor/LightRocket via Getty Images / Getty Images) One letter addressed to Jeffrey McConney, of The Trump Corporation, explicitly states, "JPMorgan Chase Bank, N.A. ('we') has decided to close its banking relationship with The Trump Corporation and its affiliated entities." Another letter addressed directly to Trump states, "We may determine that a client's interests are no longer served by maintaining a relationship. ... With that in mind, this letter is to respectfully inform you that we will need to end our current relationship." Wilkening claimed the bank handled the remaining balances in the accounts by working with Trump and his companies to move their funds to other institutions, in accordance with the bank's standard account agreements. Trump and his companies were given until April 19, 2021, to transfer hundreds of millions of dollars before the accounts were officially closed. Ticker Security Last Change Change % JPM JPMORGAN CHASE & CO. 310.79 +2.74 +0.89% **TRUMP SAYS HE WILL SUE JPMORGAN CHASE OVER ‘INCORRECT’ POST-JAN 6 DEBANKING** His attorneys alleged that Bank of America later refused to accept large deposits when he attempted to bank elsewhere. While the bank's letters do not provide a specific reason for the closures, Trump attorneys are alleging the accounts were "unlawfully closed due to political discrimination" and that they were placed on a "blacklist." In an earlier filing, Trump's attorneys noted he was a JPMorgan customer for decades, and he and his affiliated entities transacted "hundreds of millions of dollars" through the bank. Based on account agreements JPMorgan shared with the court, the institution can justify closing certain accounts, with or without cause, and generally permit either party to terminate accounts with at least 30 days written notice. Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during the America Business Forum in Miami, Nov. 6, 2025. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images) The agreements also authorize closure upon written notice of specific reasons, including breach of contract, financial impairment or insolvency, legal or regulatory requirements, or activities the bank in "good faith" believes violate its policies. JPMorgan's policies are primarily structured around regulatory compliance and risk management, specifically anti-money laundering and anti-terrorism, government sanctions, unlawful transactions, and adherence to general legal and banking standards. The agreements note customers must comply with all notified bank policies, and the bank reserves the right to refuse transactions, freeze funds or close accounts without further notice if it determines an activity conflicts with its policies. Trump’s attorneys are accusing JPMorgan Chase and its CEO of trade libel, violating Florida’s unfair and deceptive trade practices act, declaratory relief and breach of implied covenant of good faith and fair dealing — demanding a jury trial. **TRUMP ORGANIZATION, ERIC TRUMP SUE CAPITAL ONE FOR 'UNJUSTIFIABLE' 2021 DEBANKING BASED ON 'WOKE' BELIEFS** Lawyers said they are "confident that JPMC’s unilateral decision came about as a result of political and social motivations, and JPMC’s unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views." "In addition to the considerable financial and reputational harm that Plaintiffs and their affiliated entities suffered, JPMC’s reckless decision is leading a growing trend by financial institutions in the United States of America to cut off a consumer’s access to banking services if their political views contradict with those of the financial institution," Trump's attorneys wrote in the initial complaint. Dimon in 2025 denied that his institution debanks customers based on political views. President Donald Trump had been a customer of JPMorgan for decades, according to the lawsuit. (Krisztian Bocsi/Bloomberg via Getty Images; ANGELA WEISS/AFP via Getty Images / Getty Images) "We don't debank people because of political or religious affiliations," Dimon said on Capitol Hill Feb. 13, 2025. "But there are a lot of things that can be fixed. We should fix them. The rules and requirements are so onerous, and it does cause people to be debanked in my opinion, should not be debated." The Trump Organization also sued Capital One in 2025, claiming the bank in 2021 "unjustifiably" terminated more than 300 of its bank accounts, and accounts belonging to Trump family members. At the time, a Capital One spokesperson told Fox News Digital, "Capital One has not and does not close customer accounts for political reasons." **CLICK HERE TO DOWNLOAD THE FOX NEWS APP** JPMorgan Chase did not immediately respond to FOX Business' request for comment. *FOX Business' Brooke Singman contributed to this report.* ### Related Stocks - [FNCL.US - Fidelity MSCI Financials Index](https://longbridge.com/en/quote/FNCL.US.md) - [XLF.US - Financial Select Sector SPDR Fund](https://longbridge.com/en/quote/XLF.US.md) - [JPX.US - Defiance Daily Target 2X Long JPM ETF](https://longbridge.com/en/quote/JPX.US.md) - [JPM.US - JPMorgan Chase](https://longbridge.com/en/quote/JPM.US.md) - [VFH.US - VG Financial](https://longbridge.com/en/quote/VFH.US.md) - [IAI.US - ISHRS Us Brokers & Sec Exchg](https://longbridge.com/en/quote/IAI.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 別為美最高法推翻特朗普關税高興太早？華爾街預計市場反應或曇花一現 | 美國股債匯波動相對温和的一個重要原因是，預測市場此前已傾向於這一裁決結果，且特朗普隨後表示已有備用方案。雖然特朗普至少有五種替代的法律工具重新徵收關税，但無論採取何種方式，都將對長期美債的收益率構成上行壓力。 | [Link](https://longbridge.com/en/news/276487370.md) | | 美聯儲的卡什卡里表示：哈塞特對美聯儲研究人員的評論是對美聯儲獨立性的又一次攻擊 | 明尼阿波利斯聯邦儲備銀行行長尼爾·卡什卡里批評了特朗普政府經濟顧問凱文·哈塞特的言論，後者建議對聯邦儲備研究人員在關税研究方面進行紀律處分。卡什卡里認為，這種言論削弱了聯邦儲備的獨立性，強調了獨立研究在理解經濟中的重要性。他在北達科他州的一 | [Link](https://longbridge.com/en/news/276350286.md) | | 摩根大通在 Casella 廢物處理系統公司持有價值 1.5714 億美元的頭寸 | 摩根大通減少了對 Casella Waste Systems, Inc.的持股比例，第三季度下降了 3.1%，目前持有 1,656,213 股，市值為 1.5714 億美元。其他機構投資者也調整了他們的持倉，其中凱通國際和 Geneos W | [Link](https://longbridge.com/en/news/276532274.md) | | 庫倫佛寺銀行公司 $CFR 的股票頭寸被 Assetmark Inc. 提升 | Assetmark Inc. 在第三季度大幅增加了對庫倫佛寺銀行的持股，增幅達到 23,543.6%，目前持有 9,221 股，價值 1,169,000 美元。其他機構投資者也提高了他們的持股。內部人士進行了股票出售，部分高管最近出售了股份 | [Link](https://longbridge.com/en/news/276508313.md) | | 摩根大通出售了 337,799 股 Monday.com 有限公司的股票 $MNDY | 摩根大通（JPMorgan Chase & Co.）在第三季度減少了對 monday.com Ltd.（NASDAQ:MNDY）18.4% 的持股，出售了 337,799 股，剩餘持有 1,495,201 股，估值約為 2.896 億美元。 | [Link](https://longbridge.com/en/news/276439258.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.