JPMorgan Chase has acknowledged in a recent court filing that it closed bank accounts linked to Donald Trumpfollowing the Jan. 6, 2021 attack on the US Capitol, according to reporting by The Associated Press and other outlets.
In the filing submitted in Trump’s lawsuit against the bank, former chief administrative officer Dan Wilkening wrote:
“In February 2021, JPMorgan informed Plaintiffs that certain accounts maintained with JPMorgan’s CB and PB would be closed.”
The references correspond to the bank’s commercial banking and private banking divisions. The statement marks the first time the bank has acknowledged the closures on the record in court documents.
The lawsuit itself was filed last month against JPMorgan and its CEO, Jamie Dimon. Trump’s legal team argues that the decision to terminate the accounts was politically motivated and tied to the fallout from Jan. 6.
Lawsuit centers on claims of political motivation
In the 26-page complaint, Trump’s attorney Alejandro Brito wrote that the plaintiffs believe JPMorgan’s decision came from “political and social motivations,” alleging the bank sought to distance itself from Trump and his political views after the events surrounding the 2020 election.
The Capitol riot came after Trump attempted to overturn the results of the presidential election, which he lost to former President Joe Biden.
Trump is seeking $5 billion in damages in the case, arguing that the account closures placed him, his family and related businesses on what the lawsuit describes as a reputational “blacklist.”
JPMorgan has pushed back against the claims. The bank said previously that the lawsuit has “no merit,” maintaining that account decisions are based on legal and regulatory considerations rather than political or religious views.
Part of a broader dispute over “debanking”
Trump’s legal team described the filing as an important moment in the case. In a statement cited by the Associated Press, the lawyers said:
“In a devastating concession that proves President Trump’s entire claim, JPMorgan Chase admitted to unlawfully and intentionally de-banking President Trump, his family, and his businesses, causing overwhelming financial harm.”
The issue of so-called debanking has become a broader political debate in Washington, with Trump and some Republican lawmakers arguing that major banks have closed accounts linked to conservative individuals and organizations.
A related dispute is already playing out elsewhere. The Trump Organization filed a separate lawsuit last year against Capital One, alleging the bank shut down more than 300 accounts connected to the group after the Jan. 6 events.
Roman Zaika
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