JPMorgan Admits to Debanking Trump After Jan. 6 Capitol Attacks
The New York Times • • general
Key Points:
- JPMorgan Chase has admitted to closing over 50 accounts linked to Donald Trump and the Trump Organization in February 2021, shortly after his presidential term ended.
- The closed accounts included those for Trump hotels, housing developments, retail shops, and Trump's personal private banking account managing his inheritance.
- JPMorgan did not specify a reason for the mass account closures but indicated Trump should find a more suitable institution for his business.
- Trump’s lawsuit alleges the bank blacklisted him due to his conservative political views, echoing similar complaints about other banks cutting ties post-January 6 Capitol attack.
- The issue has gained public attention as Trump uses his experience to advocate against "debanking," influencing federal regulatory approaches to banks'
