Why Debanking Has Become a Flashpoint in US Politics: QuickTake

In a lawsuit against JPMorgan Chase & Co., President Donald Trump and his business entities accused the bank and its chief executive officer, Jamie Dimon, of closing Trump’s accounts because of his politics. The country’s largest bank ended its relationship with Trump about seven weeks after the Jan. 6, 2021 Capitol riot. JPMorgan said in a statement that the suit has no merit.

It was not the first time Trump has levied such an accusation against a bank. In March, he sued Capital One Financial Corp., alleging the bank closed Trump Organization accounts due to “political and ...