JPMorgan Admits to Closing Trump’s Accounts

The largest bank in the United States, JPMorgan Chase, has officially acknowledged for the first time that it closed accounts linked to Donald Trump following the January 6, 2021 Capitol attack. The information was revealed in court documents made public last week.

Dan Wilkening, the bank’s former Chief Administrative Officer, confirmed in a court filing that in February 2021 JPMorgan notified relevant parties that it would close certain accounts held within its commercial and private banking divisions. This marks the first time the institution has openly admitted in court that it took such action.

The case is connected to a lawsuit filed by Donald Trump at the end of January. The former president argues that his accounts were shut down for political reasons, allegedly placing his family on a reputational blacklist. He is seeking $5 billion in damages. His legal team described the bank’s admission as key evidence supporting their claims.

JPMorgan strongly denies the allegations. Bank spokesperson Trish Wexler told CNN that the lawsuit is without merit. She emphasized that the bank closes accounts only in situations involving legal or regulatory risk, not for political or religious reasons.

The account closures reportedly had far-reaching consequences. The former president’s son, Eric Trump, has repeatedly stated that after being cut off from traditional banking services, the family turned toward cryptocurrencies. In one interview, he claimed that Capital One had also closed 300 of his accounts. According to him, the lack of access to conventional banking pushed him to explore digital assets. As a result, Eric Trump became involved in developing the family’s cryptocurrency platform, World Liberty Financial.