The U.S. Department of Justice has subpoenaed JPMorgan Chase, Bank of America, and Wells Fargo. The U.S. Attorney's Office in Washington, D.C., is investigating whether these institutions closed customer accounts for political or religious reasons.
Subpoenas dating back to last year demand lists of terminated customers. The DOJ also requires explanations for these closures. The investigation is independent but coordinates with a separate review by the Office of the Comptroller of the Currency.
The probe follows a 2025 executive order from President Trump. This order directs regulators to scrutinize the politically motivated denial of financial services.