JPMorgan Acknowledges Account Closures Linked to Trump Following January 6, 2021 Events

JPMorgan Chase Bank has recently acknowledged that it closed President Donald Trump‘s bank accounts following the January 6, 2021, breach of the U.S. Capitol. This revelation comes in light of a $5 billion legal challenge initiated by the president last month.

The lawsuit, filed against the bank and its CEO, Jamie Dimon, in Miami state court, alleges that the financial institution debanked Trump for political reasons. In a recent court filing, Dan Wilkening, the chief administrative officer for global banking at JPMorgan, confirmed that in February 2021, the bank notified Trump and several of his hospitality companies about the closure of certain accounts.

Formal letters from JPMorgan, dated February 19, 2021, explicitly state the bank’s decision. One letter addressed to Jeffrey McConney of The Trump Corporation reads, “JPMorgan Chase Bank, N.A. (‘we’) has decided to close its banking relationship with The Trump Corporation and its affiliated entities.”

Another letter directed to Trump states, “We may determine that a client’s interests are no longer served by maintaining a relationship. … With that in mind, this letter is to respectfully inform you that we will need to end our current relationship.”

Wilkening claimed that the bank worked with Trump and his companies to transfer their remaining balances to other institutions, in line with standard account agreements. Trump and his companies were given until April 19, 2021, to move hundreds of millions of dollars before the accounts were officially closed.

TRUMP SAYS HE WILL SUE JPMORGAN CHASE OVER ‘INCORRECT’ POST-JAN 6 DEBANKING

Trump’s attorneys allege that Bank of America later refused to accept large deposits when he sought to bank elsewhere. While the letters from JPMorgan do not specify reasons for the closures, Trump’s legal team claims the accounts were “unlawfully closed due to political discrimination” and that they were placed on a “blacklist.”

In earlier filings, Trump’s attorneys highlighted that he had been a JPMorgan customer for decades, transacting “hundreds of millions of dollars” through the bank. According to account agreements shared with the court, JPMorgan reserves the right to close certain accounts with or without cause, generally allowing either party to terminate accounts with at least 30 days written notice.

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during the America Business Forum in Miami, Nov. 6, 2025. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images)

The agreements also allow for account closure upon written notice for specific reasons, including breach of contract, financial impairment, legal or regulatory requirements, or activities that the bank believes violate its policies. JPMorgan’s policies are primarily focused on regulatory compliance and risk management, particularly in areas like anti-money laundering and anti-terrorism.

Trump’s legal team is accusing JPMorgan Chase and its CEO of trade libel, violating Florida’s unfair and deceptive trade practices act, and demanding a jury trial. They assert that the bank’s actions were motivated by political and social factors, claiming that JPMorgan sought to distance itself from Trump and his conservative views.

Dimon, in 2025, denied that his institution debanks customers based on political affiliations. “We don’t debank people because of political or religious affiliations,” he stated during a congressional hearing. “But there are a lot of things that can be fixed. We should fix them.”

The Trump Organization has also filed a lawsuit against Capital One, alleging that the bank unjustifiably terminated over 300 accounts in 2021. A Capital One spokesperson has stated that the bank does not close accounts for political reasons.

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JPMorgan Chase has not yet responded to FOX Business’ request for comment.

FOX Business’ Brooke Singman contributed to this report.

JPMorgan Chase Bank has recently acknowledged that it closed President Donald Trump‘s bank accounts following the January 6, 2021, breach of the U.S. Capitol. This revelation comes in light of a $5 billion legal challenge initiated by the president last month.

The lawsuit, filed against the bank and its CEO, Jamie Dimon, in Miami state court, alleges that the financial institution debanked Trump for political reasons. In a recent court filing, Dan Wilkening, the chief administrative officer for global banking at JPMorgan, confirmed that in February 2021, the bank notified Trump and several of his hospitality companies about the closure of certain accounts.

Formal letters from JPMorgan, dated February 19, 2021, explicitly state the bank’s decision. One letter addressed to Jeffrey McConney of The Trump Corporation reads, “JPMorgan Chase Bank, N.A. (‘we’) has decided to close its banking relationship with The Trump Corporation and its affiliated entities.”

Another letter directed to Trump states, “We may determine that a client’s interests are no longer served by maintaining a relationship. … With that in mind, this letter is to respectfully inform you that we will need to end our current relationship.”

Wilkening claimed that the bank worked with Trump and his companies to transfer their remaining balances to other institutions, in line with standard account agreements. Trump and his companies were given until April 19, 2021, to move hundreds of millions of dollars before the accounts were officially closed.

TRUMP SAYS HE WILL SUE JPMORGAN CHASE OVER ‘INCORRECT’ POST-JAN 6 DEBANKING

Trump’s attorneys allege that Bank of America later refused to accept large deposits when he sought to bank elsewhere. While the letters from JPMorgan do not specify reasons for the closures, Trump’s legal team claims the accounts were “unlawfully closed due to political discrimination” and that they were placed on a “blacklist.”

In earlier filings, Trump’s attorneys highlighted that he had been a JPMorgan customer for decades, transacting “hundreds of millions of dollars” through the bank. According to account agreements shared with the court, JPMorgan reserves the right to close certain accounts with or without cause, generally allowing either party to terminate accounts with at least 30 days written notice.

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during the America Business Forum in Miami, Nov. 6, 2025. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images)

The agreements also allow for account closure upon written notice for specific reasons, including breach of contract, financial impairment, legal or regulatory requirements, or activities that the bank believes violate its policies. JPMorgan’s policies are primarily focused on regulatory compliance and risk management, particularly in areas like anti-money laundering and anti-terrorism.

Trump’s legal team is accusing JPMorgan Chase and its CEO of trade libel, violating Florida’s unfair and deceptive trade practices act, and demanding a jury trial. They assert that the bank’s actions were motivated by political and social factors, claiming that JPMorgan sought to distance itself from Trump and his conservative views.

Dimon, in 2025, denied that his institution debanks customers based on political affiliations. “We don’t debank people because of political or religious affiliations,” he stated during a congressional hearing. “But there are a lot of things that can be fixed. We should fix them.”

The Trump Organization has also filed a lawsuit against Capital One, alleging that the bank unjustifiably terminated over 300 accounts in 2021. A Capital One spokesperson has stated that the bank does not close accounts for political reasons.

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

JPMorgan Chase has not yet responded to FOX Business’ request for comment.

FOX Business’ Brooke Singman contributed to this report.