Jamie Dimon Rejects Trump Media ‘Debanking’ Claim

Jamie Dimon dismissed allegations that JPMorgan Chase “debanked” Trump Media for political reasons, saying critics “have to grow up” and stop “making up things.”

In an interview with Fox News on Sunday, the JPMorgan CEO was questioned about claims made by Trump Media CEO Devin Nunes related to an investigation into alleged efforts to overturn the 2020 presidential election.

‘’I have seen Jamie Dimon and others at JPMorgan say this over and over again that they don’t debank people for political reasons,’’ Nunes said in a clip played on the show. ‘’Well, then why the hell did you debank Trump Media?’’

“People have to grow up here, OK, and stop making up things and stuff like that,” Dimon said in response. ”We do not debank people for religious or political affiliations.”

Dimon acknowledged that JPMorgan does debank people, but said that the bank has closed accounts for both Democrats and Republicans. He added that the bank has “debanked different religious folks,” but ”never was that for that reason.” 

Dimon also said that he has been calling for a change to the rules that determine when bank accounts have to be closed.  

Trump Officials And Crypto Community Members Report Closed Accounts

Debanking is a flashpoint in the crypto industry, where executives and companies have often faced sudden account closures.

Nunes said that Trump Media was among over 400 individuals and organizations linked to President Trump that had their banking records subpoenaed by special counsel Jack Smith as part of an investigation. 

Similarly, Jack Mallers, the CEO of the Bitcoin Lightning Network payments company Strike said recently that his accounts were closed. 

Yes. A proud moment.

So proud I got it framed. https://t.co/uo6v2Xfr8p pic.twitter.com/Myfo59Wn3B

— Jack Mallers (@jackmallers) November 23, 2025

His accusations that the accounts were closed with no explanation had sparked fears of another Operation Chokepoint 2.0.

Meanwhile, ShapeShift’s head of marketing Houston Morgan shared a similar story in November.

Many in the crypto industry have said that this is part of a broader policy-driven effort to suppress the digital asset sector. 

President Donald Trump and his family were also denied accounts by banks when he was out of office. This ultimately led them to embrace the crypto space, according to Trump’s son, Eric Trump. 

After entering the White House for a second term, Trump signed an executive order to address the alleged debanking of certain groups of people. In the order, he directed banking regulators to investigate any claims of debanking made by members of the crypto community and conservatives. 

Dimon Says He Wants The Rules To Change

Dimon said that he agrees that debanking is bad. 

“I actually applaud the Trump administration, who’s trying to say that debanking is bad and we should change the rules,” Dimon said. 

He said he has worked for years to change the rules.

“Well, damn it, I have been asking to change the rules now for 15 years. So change the rules,” he said. 

“It is really customer unfriendly, and we’re debanking people because of suspected things, or negative media, or all these various things.” 

JPMorgan Sometimes Left In Difficult Situations, Says Dimon

Dimon said that JPMorgan and other major banks are required to share customer information with the government when subpoenaed to do so.

He said his bank has been issued subpoenas for customer records from “this administration, the last administration, the administration before that and the one before that,” adding that he doesn’t “agree with a lot of it.” 

Dimon speaking on Fox News (Source: YouTube)

“The government does a lot of things that can anger banks,” he said. ”So, let’s just take a deep breath and fix the problems, as opposed to, like, blame someone who’s put in that position.”

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