JPMorgan Makes Humiliating Admission in Trump's $5 Billion Debanking Lawsuit
JPMorgan Chase has admitted that it closed President Donald Trump’s bank accounts after the Jan. 6, 2021, incursion at the U.S. Capitol.
Trump has sued the bank and its CEO, Jamie Dimon, for $5 billion, according to CNBC.
Trump’s lawsuit alleged that his accounts were closed due to political reasons, which impacted his businesses.
“In a devastating concession that proves President Trump’s entire claim, JPMorgan Chase admitted to unlawfully and intentionally de-banking President Trump, his family, and his businesses, causing overwhelming financial harm,” Trump’s lawyers said in a statement.
Congress needs to pass a law that banks CANNOT de-bank customers. They did that sh*t to Kanye as well. A bank is not a standard business, it is an institutional foundation for commerce and people can’t just be kicked out just because the bank doesn’t like them.
— RedZone (@RedZone74459572) February 23, 2026
“President Trump is standing up for all those wrongly debanked by JPMorgan Chase and its cohorts, and will see this case to a just and proper conclusion,” the statement said.
JPMorgan’s former chief administrative officer, Dan Wilkening, wrote in the filing that “in February 2021, JPMorgan informed Plaintiffs that certain accounts maintained with JPMorgan’s CB and PB would be closed.”
“PB” stands for “private bank,” while “CB” stands for “commercial bank.”
This was the first time the bank admitted to closing Trump’s accounts.
America’s largest bank ADMITS to DE-BANKING Trump.
They admitted it because Trump has sued them.
More WINNING for Trump. pic.twitter.com/kX97CKjlos
— Mila Joy (@Milajoy) February 21, 2026
The filing said the February 2021 letter revealed that JPMorgan “has decided to close its banking relationship with The Trump Corporation and its affiliated entities,” according to Newsweek.
“Please transfer your Accounts to another institution, or let us know where we should transfer the holdings in your Accounts, as soon as possible,” the letter said.
“We will continue to maintain your Accounts and related services until April 19, 2021,” it added.
Trump has claimed that he spoke to Dimon about what was taking place, and that Dimon assured Trump he would discern what was happening, according to CNBC.
The lawsuit alleged Dimon then did nothing.
BREAKING: JPMorgan Admits It Shut Trump’s Accounts After Jan. 6 Capitol Attack
Nation’s largest bank, in response to a lawsuit filed by the president, confirmed his longstanding complaint about “debanking.”
Per the New York Times: “For years, President Trump has complained that… pic.twitter.com/V2Pa20vYiC
— Steve Guest (@SteveGuest) February 21, 2026
Trump’s lawyers argued that JPMorgan put Trump and his businesses on what was termed a “blacklist” that JPMorgan and other banks keep to ensure those on the list cannot open accounts at their institutions.
Trump has made similar allegations against Capital One. His lawsuit against the company is pending.
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