JPMorgan Chase has admitted in a new court filing that it closed accounts belonging to Donald Trump and his companies following the Jan. 6, 2021 breach of the US Capitol.
The disclosure comes as Trump pursues a $5 billion lawsuit against the bank and its CEO, Jamie Dimon, claiming he was "debanked" for political reasons, TheHills reported.
In documents filed in Miami state court, Dan Wilkening, the bank's chief administrative officer for global banking at the time, confirmed that in February 2021 JPMorgan notified Trump and several of his hospitality businesses that certain accounts would be closed.
Copies of letters dated Feb. 19, 2021, were included in the filing.
One letter to The Trump Corporation stated, "JPMorgan Chase Bank, N.A. ('we') has decided to close its banking relationship with The Trump Corporation and its affiliated entities."
A separate letter sent directly to Trump said the bank may decide "a client's interests are no longer served by maintaining a relationship" and informed him it would end their current relationship.
2️⃣ The admission confirms that the nation’s largest bank terminated the relationship just one month after the Jan 6 Capitol events.
— Crypto Wave (@Crypto_Wavee) February 23, 2026
Until now, the bank had only spoken "hypothetically" about its reasons for closing accounts, citing privacy laws. #Banking pic.twitter.com/GEXLnlC8ON
Trump Claims Political Bias in JPMorgan
According to the filing, Trump and his companies were given until April 19, 2021, to transfer hundreds of millions of dollars before the accounts were shut down.
Wilkening said the bank worked with Trump's team to move the remaining funds to other financial institutions, following standard account agreements.
According to FoxBusiness, Trump's lawsuit alleges the accounts were "unlawfully closed due to political discrimination" and claims he was placed on a "blacklist."
His attorneys argue that the decision caused major financial and reputational harm.
They also claim other banks, including Bank of America, later refused to accept large deposits when Trump tried to open new accounts.
In response, JPMorgan said the lawsuit "has no merit." The bank stated, "JPMC does not close accounts for political or religious reasons. We do close accounts because they create legal or regulatory risk for the company."
It added that it respects Trump's right to sue and will defend itself in court.
Account agreements submitted to the court show that JPMorgan can close accounts with or without cause, as long as written notice is given.
The agreements also allow closures if there are concerns about legal, regulatory, or policy violations.
The bank says its policies focus on anti-money laundering rules, anti-terrorism standards, government sanctions, and other compliance requirements.
Originally published on vcpost.com
