In a February 2026 court filing JPMorgan explicitly acknowledged that it closed certain private and commercial bank accounts held by Donald Trump and several of his businesses in February 2021, marking its first direct confirmation of the action following the January 6 events.

Trump’s $5 billion lawsuit alleges that the closures were politically motivated “debanking,” while JPMorgan’s legal team argues the complaint misnames CEO Jamie Dimon, lacks factual basis for wrongful motive claims and is seeking to move the case to New York, where the accounts were maintained.

The admission has intensified scrutiny on JPMorgan’s risk-management and client-selection policies, could raise the bank’s litigation costs and reputational risk, and may influence future banking practices around servicing high-profile or politically exposed clients.