JPMorgan’s Trump Betrayal Exposed

JPMorgan Chase finally admits it shut down President Trump’s accounts right after January 6, exposing potential political debanking that conservatives have long warned against as a threat to financial freedom.

Story Highlights

JPMorgan confirmed in a February 2026 court filing that it closed Trump Organization accounts in February 2021, despite CEO Jamie Dimon’s prior denials of political motivations.
Trump filed a $5 billion lawsuit in January 2026, alleging discrimination and “woke” blacklisting that harmed his businesses.
The bank cited standard policy rights to terminate accounts with 30 days’ notice, but timing post-January 6 raises questions of institutional bias against conservatives.
Trump had banked with JPMorgan for decades, transacting hundreds of millions before the sudden cutoff amid public pressure.
This case highlights growing debanking risks for Americans holding traditional values, fueling calls for banking reforms under President Trump’s leadership.

Bank’s Admission in Court Filing

JPMorgan Chase submitted formal letters to a Miami federal court on February 22, 2026, confirming account closures for Donald Trump and the Trump Organization. Dan Wilkening, the bank’s chief administrative officer for global banking, authored the filing as part of a motion to shift the case from state to federal court.

The letters, dated February 19, 2021, notified Trump Organization CFO Jeffrey McConney and Trump personally of the terminations. Accounts closed fully by April 19, 2021, after Trump entities transferred hundreds of millions in funds cooperatively. This marks the first documentary proof of the actions, reversing earlier public denials.

JPMorgan admits to closing Trump’s accounts after Jan. 6 Capitol attack https://t.co/byfINiKfjY

— Bo Snerdley (@BoSnerdley) February 22, 2026

Trump’s Lawsuit Alleges Political Discrimination

President Trump launched a $5 billion suit against JPMorgan and CEO Jamie Dimon in Miami state court last month, claiming the closures stemmed from political and social motivations tied to “woke” agendas. Trump’s attorneys argue the moves caused severe financial and reputational harm, positioning this as part of a broader debanking trend targeting conservatives.

The decades-long client relationship soured immediately after the January 6, 2021, Capitol events, when multiple banks distanced themselves amid public outcry. Conservatives see this as corporate overreach punishing political views, eroding economic liberty for everyday patriots.

JPMorgan Defends with Policy Clauses

JPMorgan maintains the closures followed standard account agreements, which grant the bank discretion to terminate relationships with 30 days’ notice, with or without cause, or for policy violations. CEO Dimon testified in 2025 that the bank avoids debanking based on political or religious affiliations, instead blaming regulatory burdens.

Wilkening emphasized in the filing that the process was routine, with no disruptions to fund transfers. Yet the post-January 6 timing fuels skepticism, especially given similar 2021 actions by Capital One and Bank of America refusals. This underscores tensions between bank risk management and accusations of bias.

Power dynamics favor JPMorgan’s contractual leverage, but Trump’s political influence and litigation strategy challenge it directly. Regulators indirectly shape such decisions through compliance pressures Dimon has cited repeatedly.

Broader Implications for Conservatives

The lawsuit escalates short-term costs for JPMorgan, with shares recently up 0.89% to $310.79 amid volatility. Long-term, a victory could set precedents curbing political debanking, protecting Americans from woke corporate cancellations. Conservative groups warn this trend threatens financial access for those upholding family values and Second Amendment rights.

Trump positions himself as a victim of institutional bias, rallying support against government-enabled overreach. Parallels to the 2025 Capital One suit signal an industry pattern demanding scrutiny and potential reforms now that President Trump leads.