JPMorgan admits it closed Trump's accounts after Jan. 6 attack amid $5 billion debanking lawsuit
Fortune • • business
Key Points:
- JPMorgan Chase has admitted in a court filing that it closed former President Donald Trump's accounts in February 2021, marking the first written acknowledgment of the closures since January 6, 2021.
- Trump sued JPMorgan for $5 billion, alleging the bank closed his accounts for political reasons, disrupting his business, and accused the bank of placing him and his companies on a reputational "blacklist" to prevent future banking relationships.
- JPMorgan is seeking to move the lawsuit from Florida state court to federal court in New York, citing jurisdictional reasons related to where the accounts and much of Trump's business operations were located.
- The case centers on the controversial issue of "debanking," where banks close accounts or refuse services, a
