JPMorgan Chase formally acknowledged in court documents that it closed the bank accounts of Donald Trump and his businesses following the January 6, 2021, attack on the U.S. Capitol. This filing marks the first time the bank has confirmed the closures in a legal setting.
The admission surfaced as JPMorgan petitioned to move a $5 billion lawsuit from Florida to New York. Trump filed the suit alleging the bank’s actions constituted political discrimination.
Trump’s attorneys claim the admission proves the bank unlawfully de-banked the former president and caused significant financial harm. JPMorgan maintains that the lawsuit has no merit.