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Debanking

All articles tagged with #debanking

Warren presses Eric Trump on whether Capital One suit will be revived amid CFPB probe
politics9 days ago

Warren presses Eric Trump on whether Capital One suit will be revived amid CFPB probe

Sen. Elizabeth Warren asks Eric Trump to confirm if the Trump family will re-file its Capital One de-banking lawsuit by the July deadline as part of a Senate Banking Committee inquiry into Capital One and CFPB nominee Brian Johnson; the suit, which Capital One denies, previously was dismissed but allowed a July deadline to re-file, with the July 17 date referenced; Warren’s questions also touch on Johnson’s role in a Biden-era Capital One action and the CFPB’s staffing declines under the current administration.

via New York Post|
#capital-one#cfpb#debanking
DOJ widens probe into banks over alleged political debanking
business1 month ago

DOJ widens probe into banks over alleged political debanking

Federal prosecutors have subpoenaed JPMorgan Chase, Bank of America, Wells Fargo and other banks in a sweeping criminal probe into whether they debanked customers for political reasons, demanding lists of closed accounts and the rationale behind closures. The investigation, led by the DC US attorney’s office, could invoke the Financial Institutions Reform, Recovery and Enforcement Act of 1989, though it remains unclear which law the banks may have violated; banks say they follow regulations and do not drop customers for politics.

via New York Post|
#bank-of-america#banking-regulation#business
FTC Warns Major Payment Gateways Over Debanking Practices
business3 months ago

FTC Warns Major Payment Gateways Over Debanking Practices

FTC Chairman Andrew N. Ferguson sent warning letters to the CEOs of PayPal, Stripe, Visa, and Mastercard, reiterating their obligations under the FTC Act and warning that denying access to financial services based on political or religious views could violate the law and trigger enforcement, referencing a 2025 executive order on debanking.

via Federal Trade Commission (.gov)|
#business#consumer-protection#debanking
JPMorgan admits closing Trump accounts after Jan. 6 in $5B debanking case
business4 months ago

JPMorgan admits closing Trump accounts after Jan. 6 in $5B debanking case

JPMorgan Chase acknowledged in court filings that it closed Donald Trump and Trump Organization accounts after the January 6 Capitol attack, a fact cited in Trump’s $5 billion lawsuit alleging politically motivated debanking; the bank said the closures included a two‑month transfer window and argued New York is the proper forum, as the dispute underscores a broader debate over politically targeted banking.

via Ground News|
#business#debanking#donald-trump
JPMorgan admits shutting Trump’s accounts after Capitol riot
business4 months ago

JPMorgan admits shutting Trump’s accounts after Capitol riot

JPMorgan Chase disclosed in a court filing that it closed certain Trump accounts in February 2021 after the Jan. 6 Capitol attack, marking the first written admission in Trump’s lawsuit alleging political motives behind debanking. The bank seeks to move the case from state to federal court and to New York for jurisdiction, as Trump’s lawyers push the dispute over alleged reputational blacklisting and damages in a high-stakes legal battle.

via NBC News|
#business#capitol-attack#debanking
Trump targets JPMorgan with $5B debanking lawsuit
politics5 months ago

Trump targets JPMorgan with $5B debanking lawsuit

President Donald Trump sues JPMorgan Chase and CEO Jamie Dimon for $5 billion, alleging the bank’s decision to close his accounts after Jan. 6 was a politically motivated act of “debanking.” The article notes the bank gave 60 days’ notice, argues there’s no right to a bank of one’s choosing, and points out that Trump has filed similar banking-related suits (including against Capital One). It also highlights Trump’s private attorney Alejandro Brito, who leads other defamation and banking-related suits, framing these actions as pressure tactics against powerful institutions.

via Daily Kos|
#alejandro-brito#debanking#donald-trump
Trump Fires Back at JPMorgan Chase with $5B Debanking Lawsuit
politics5 months ago

Trump Fires Back at JPMorgan Chase with $5B Debanking Lawsuit

Former President Donald Trump filed a Florida civil suit against JPMorgan Chase, alleging the bank debanked him for political reasons after a 2021 notice to move funds and a later 'blacklist' of his accounts, seeking $5 billion. The filing argues the actions were politically motivated and cites federal investigations, while critics note Florida’s consumer-protection statute lacks a private right of action, framing the move as a high-profile, controversial legal gambit.

via Above the Law|
#debanking#florida#jpmorgan-chase
Trump Sues JPMorgan Chase for $5B Over Alleged Political Debanking
business5 months ago

Trump Sues JPMorgan Chase for $5B Over Alleged Political Debanking

Former President Donald Trump filed a Florida state court suit against JPMorgan Chase and CEO Jamie Dimon, seeking at least $5 billion in civil damages, alleging the bank closed his and related accounts in early 2021 for political reasons after the Jan. 6 riot; JPMorgan says the suit lacks merit and that it does not close accounts for political or religious reasons, noting it closes accounts to manage legal or regulatory risk, while the case raises questions about whether banks are restricting access to banking based on political views.

via CNBC|
#business#debanking#jamie-dimon
Trump poised to sue JPMorgan over alleged debanking after Jan. 6
business5 months ago

Trump poised to sue JPMorgan over alleged debanking after Jan. 6

President Trump says he will sue JPMorgan Chase for allegedly closing his accounts after the Jan. 6 Capitol attack, labeling it debanking, while JPMorgan and Bank of America deny political motives. Trump also denied offering Jamie Dimon the Federal Reserve chair, a claim Dimon rejected. The report also notes ongoing Fed independence concerns as Chair Powell disclosed a DOJ subpoena related to his testimony amid a broader investigation.

via Barron's|
#business#debanking#fed-reserve
Trump threatens suit against JPMorgan over alleged post‑Capitol debanking
politics5 months ago

Trump threatens suit against JPMorgan over alleged post‑Capitol debanking

Trump says he will sue JPMorgan Chase over alleged debanking after the January 6 Capitol riot, citing an unsubstantiated claim; JPMorgan and Dimon deny any job offer or political account closures, and a bank spokesperson says no one's account should be closed for beliefs. Trump also attacks Powell and the Wall Street Journal amid broader tensions with the Fed and ongoing investigations, continuing his pattern of combative rhetoric toward financial and media figures.

via The Guardian|
#debanking#jamie-dimon#jpmorgan-chase
politics5 months ago

Trump pledges legal action against JPMorgan over alleged debanking

President Trump said he will sue JPMorgan Chase within two weeks over alleged debanking after the Jan. 6 Capitol riot, claiming the bank restricted his accounts under pressure from the Biden administration. JPMorgan denies political motives. The dispute ties into Trump’s broader ‘debanking’ narrative and notes Dimon’s floated roles and related discussions, which Dimon has publicly disputed.

via Politico|
#debanking#fed-chair#jamie-dimon