JPMorgan Chase publicly acknowledged that it shut down over 50 accounts associated with Donald Trump and his business after the January 6th protest. This revelation was part of a legal response to a lawsuit filed by Trump against the bank.
• Account Closures: The accounts affected included those tied to Trump’s hotels, real estate projects, and retail ventures across several states, as well as his personal banking services.
• Lawsuit Details: Trump has filed a lawsuit claiming JPMorgan engaged in a politically motivated attack by closing his accounts. The accusation includes that the bank aimed to distance itself from Trump's conservative views.
• Communication from JPMorgan: A letter from the bank informed Trump in February 2021 that he needed to "find a more suitable institution" for his business dealings. No specific violations or issues were cited in this correspondence.
• Bank's Response: Previously, JPMorgan had not confirmed the account closures but described the lawsuit as without merit, mentioning that they typically close accounts that pose legal or regulatory risks.
• Suing for Damages: Trump’s lawsuit seeks $5 billion in damages, asserting that he was wrongfully debanked due to political pressures.
• Court Proceedings: JPMorgan has requested to transfer the case from a Florida state court to a federal court in New York, indicating a strategic response to potentially favorable judicial conditions.
The situation underscores a significant legal battle between Donald Trump and JPMorgan Chase over alleged politically driven actions regarding his bank accounts. This case raises broader questions concerning the intersection of finance and politics.
https://www.thegatewaypundit.com/2026/02/jpmorgan-admits-closing-50-trump-bank-accounts-after/
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