JPMorgan Chase closes Trump's account following the Capitol Hill riot

LootboxPhobia · 2026-02-21T22:23:40+00:00

JPMorgan Chase notified Trump and his hotel business to close their bank accounts in February 2021 without providing a reason. Trump alleged that the action was politically motivated and claimed the bank violated policies. JPMorgan Chase, on the other hand, stated that the lawsuit was unfounded and requested the case be transferred to New York for proceedings.

LootboxPhobia

2026-02-21 22:23:40

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Investing.com - According to court documents and letters disclosed in relation to the $5 billion lawsuit filed by Donald Trump against the bank and its CEO Jamie Dimon, JPMorgan Chase (NYSE:JPM) notified President Donald Trump and his hotel business in February 2021 that their bank accounts would be closed.

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The letters dated February 19, 2021, did not specify the exact reasons for terminating the relationship. In one of the notices, JPMorgan stated that the bank might determine that the client’s interests are “no longer suitable” for maintaining a relationship with its private banking division.

In the weeks following the January 6 attack on the U.S. Capitol, many companies and organizations distanced themselves from Trump, including law firms and the United States Golf Association, which canceled a tournament originally scheduled to be held at Trump’s Bedminster Golf Club in New Jersey.

Trump accused JPMorgan Chase of targeting him for political reasons, alleging that the bank violated its own policies by closing accounts related to him, his family, and associated businesses. A spokesperson for Trump’s legal team stated that the disclosure of these letters supports claims that the accounts were improperly terminated.

JPMorgan Chase previously stated that the lawsuit was baseless. The bank and its legal counsel at Jones Day did not immediately respond to requests for comment.

These letters were submitted as part of JPMorgan Chase’s motion to transfer the case from the Miami federal court to New York, arguing that the dispute has a closer connection to New York.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

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