"JPMorgan Chase acknowledged for the first time that it closed the bank accounts of President Donald Trump and several of his businesses in the political and legal aftermath of the Jan. 6, 2021, attacks on the U.S. Capitol, the latest development in a legal saga over the controversial practice of debanking. The acknowledgment came in a court filing submitted this week in Trump's lawsuit against the bank and its leader, Jamie Dimon."
"In February 2021, JPMorgan informed Plaintiffs that certain accounts maintained with JPMorgan's CB and PB would be closed, JPMorgan's former chief administrative officer Dan Wilkening wrote in the court filing. The PB and CB stand for JPMorgan's private bank and commercial bank. Until now, JPMorgan has never admitted it closed the president's accounts, and would only speak hypothetically about when the bank closes accounts and its reasons for closing accounts. Emails and text messages to a spokesman for the bank were not returned."
JPMorgan Chase admitted in a court filing that it closed President Donald Trump's and several related business accounts following the Jan. 6, 2021, attacks. Trump filed a $5 billion lawsuit alleging the account closures were politically motivated and damaged his business operations. JPMorgan's former chief administrative officer Dan Wilkening wrote that in February 2021 the bank informed plaintiffs that certain accounts held with its commercial bank and private bank would be closed. The bank previously declined to admit the closures. Trump accuses JPMorgan of trade libel, placing him on a reputational blacklist, and alleges Jamie Dimon failed to follow up on assurances.
Read at www.mercurynews.com
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