Overview
- JPMorgan’s Dan Wilkening stated in a court filing that in February 2021 the bank told President Trump and affiliated entities that certain commercial and private bank accounts would be closed.
- Letters dated Feb. 19, 2021 informed Trump and Trump Organization entities that the banking relationship would end, provided access through April 19, 2021, and did not specify a reason for the closures.
- News reports based on the filings say the bank closed more than 50 accounts tied to Trump hotels, real estate operations, retail businesses, and his personal private banking relationship.
- JPMorgan seeks to move the case from Florida to federal court in New York and has asked the court to dismiss CEO Jamie Dimon from the suit, arguing he was improperly included.
- The bank maintains it does not close accounts for political reasons and cites contractual and regulatory risk policies, while Trump’s lawyers claim unlawful political ‘debanking’ and allege a reputational ‘blacklist.’