New York, Feb. 22, 2026
Banking giant JPMorgan Chase has acknowledged in court that it closed accounts belonging to Donald Trump and some of his companies following the Jan. 6, 2021 attack on the United States Capitol, bringing renewed attention to a high-stakes legal dispute between the former president and the bank.
The disclosure surfaced during proceedings related to Trump’s lawsuit seeking $5 billion in damages from the bank and its chief executive, Jamie Dimon. Trump alleges that the accounts were shut down for political reasons, claiming the decision harmed his businesses and amounted to unlawful discrimination.
Court Admission
According to filings, JPMorgan confirmed that the accounts were closed in February 2021, roughly one month after the Capitol attack. The bank’s acknowledgment marks the first time it has publicly confirmed the action in court.
Financial institutions often review client relationships following major legal or reputational events, but Trump’s lawsuit argues that the move went beyond standard risk management and constituted politically motivated targeting.
Trump’s Allegations
In his complaint, Trump claims:
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His accounts were terminated because of his political identity and views
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He was effectively “blacklisted” by a major financial institution
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The closures caused financial and reputational damage to his businesses
He is seeking monetary damages and legal relief against both the bank and its leadership.
Legal and Industry Context
Banks in the United States are allowed to close accounts under certain risk, compliance, or reputational criteria, provided they comply with contractual and regulatory requirements. However, experts note that proving political discrimination in such cases can be legally complex and typically requires evidence of unequal treatment compared with similarly situated clients.
What Happens Next
The case is expected to focus on whether JPMorgan’s decision was based on legitimate business risk considerations or whether it violated anti-discrimination or contractual standards. Legal analysts say the outcome could influence how financial institutions handle politically exposed clients in the future.
