President Trump has long contended that the world’s largest bank, JPMorgan Chase, and other financial institutions “debanked” the Trump Organization following the events of Jan. 6, 2021, at the Capitol. By summarily closing accounts without warning or explanation and refusing to deal with companies, banks can cripple their cash flow and ability to keep their business operating.

I attended a speech by Trump’s second son and VP of the Trump Organization, Eric, in October of ’25, where he described how devastating it was for the company, and how they had to turn to cryptocurrencies to survive.

The elder Trump sued JPMorgan Chase in January for $5 billion in a case that is currently in its opening stages.

BACKGROUND: Trump Says Dimon Blacklisted Him - JPMorgan Fires Back and Tries to Make It a Federal Case

Eric Trump Spoke at the Reagan Library, and What the Left Did to His Family Will Make Your Toes Curl (VIP)

Up until now, JPMorgan Chase and its CEO Jamie Dimon have only spoken in general about debanking, but did not confirm or deny that they did it to Trump. That changed on Friday when they essentially said, yeah, we did it — and it was on a large scale:

In a response to a lawsuit filed last month by Mr. Trump and the Trump Organization, JPMorgan, the nation’s largest bank, said for the first time late Friday that it cut off more than 50 Trump accounts in February 2021, shortly after Mr. Trump’s first term ended.

The accounts included those for Trump hotels, housing developments and retail shops in Illinois, Florida and New York, as well as Mr. Trump’s personal private banking relationship that handled his inheritance from his father, according to letters filed to the court.

They gave no reason for the abrupt closures, writing simply in February 2021 that Trump would need to “find a more suitable institution with which to conduct business.” It was the beginning of the coordinated effort by the Biden administration, the corrupt media, and many in the corporate world to destroy the man and the real estate empire he had created.

Those were dark days in America, and I’m sure if a prominent Democrat like Obama or Biden were debanked, the political world would explode. When it came to Trump, however, many of the powers that be simply shrugged and effectively said, “Too bad for you.”

This didn't age well:

JAMIE DIMON: JP Morgan does not debank people for political affiliations and he doesn’t like debanking people.

"People need to grow up." pic.twitter.com/JtcedUTUVp

— Econ Archive (@econarchive) December 17, 2025

Dimon: "People have to grow up here... We do not debank people for political or religious affiliations." Huh. This latest admission would certainly seem to suggest otherwise, Mr. Dimon.

Hilariously, the bank's letter ended with the phrase, “Thank you for your prompt attention to this matter,” a maxim that the president uses on many of his social media posts. 

Coincidence? I think not.

The banking behemoth, meanwhile, has thus far relied on weasel-worded statements and vague language to avoid scrutiny for what can only be described as blatant discrimination.

JPMorgan, until now, had gone to lengths to avoid addressing whether it had actually closed Mr. Trump’s accounts. In a statement last month, it described the lawsuit as without merits but did not address the specifics of Mr. Trump’s allegations. A bank spokeswoman said then that as a rule, JPMorgan closed accounts “because they create legal or regulatory risk for the company.”

Guess who they didn’t debank?

JP Morgan NEVER banned Epstein. Even after they knew of his sex crimes. But, they debanked the only President who went after Epstein. Read that 2X.

Epstein's first arrest - 2006

Date of these emails - 2010 & 2013

Don't know anyone who emails someone they don't actually… https://t.co/rqkdL7Dpjt pic.twitter.com/p3knU3FuVi

— Believer in Truth, Justice and Freedom (@LagerthaMuadDib) February 22, 2026

JPMorgan can play the innocent, and as our Ben Smith reported, CEO Jamie Dimon can attempt to deny responsibility, but this revelation suggests that their hands were very, very dirty. It’s tough to prognosticate legal cases in today’s nutty environment, but I wouldn’t be surprised if the banking giant settles for a large sum just to make this all go away.

They should, and they should also apologize profusely for their draconian financial attack on a private citizen and a successful American company. 

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