JPMorgan Chase has admitted to closing bank accounts affiliated with President Donald Trump following the January 6 Capitol riot, according to court filings in a $5 billion lawsuit filed in Miami state court. The bank's chief administrative officer confirmed that in February 2021, JPMorgan informed Trump and his hospitality companies that certain accounts would be closed, with formal letters dated February 19, 2021. Trump's legal team alleges the closures constituted unlawful political discrimination, claiming he and his entities had transacted hundreds of millions of dollars through the bank over decades. JPMorgan states the accounts were closed in accordance with standard banking agreements that permit account termination with thirty days written notice.
