Jamie Dimon rejects Trump media claim of ‘unbanking’

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

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

“I’ve seen Jamie Dimon and others at JPMorgan say 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 need to grow up here, okay, and stop inventing things and stuff like that,” Dimon said in response. »We do not favor people because of their religious or political affiliations.

Dimon acknowledged that JPMorgan was debanking people, but said the bank closed accounts for both Democrats and Republicans. He added that the bank has “unbanked various religious people”, but “nit was never for that reason.

Dimon also said he was calling for a change to the rules that determine when bank accounts must be closed.

Trump officials and members of the crypto community report closed accounts

Debanking is a hot spot in the crypto industry, where executives and businesses often face sudden account closures.

Nunes said Trump Media was among more than 400 people and organizations linked to President Trump whose banking records were subpoenaed by special counsel Jack Smith as part of an investigation.

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

Yes. A proud moment.

I am so proud to have had it framed. pic.twitter.com/Myfo59Wn3B

-Jack Mallers (@jackmallers) November 23, 2025

His accusations that the accounts had been closed without explanation had sparked fears of a new Chokepoint 2.0 operation.

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

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

President Donald Trump and his family were also denied bank accounts 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 aimed at addressing the alleged debanking of certain groups of people. In this order, he asked banking regulators to investigate any allegations of debanking made by members of the crypto community and conservatives.

Dimon says he wants the rules to change

Dimon said he agreed that defunding the banks was a bad thing.

“I actually applaud the Trump administration, which is trying to say that defunding the banks is a bad thing and we should change the rules,” Dimon said.

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

“Well, gee, I’ve been asking for 15 years now to change the rules. So change the rules,” he said.

“It’s really customer unfriendly, and we’re locking people out of banking because of suspicious things, or negative media, or all these various things.”

JPMorgan is sometimes left in difficult situations, says Dimon

Dimon said JPMorgan and other big banks are required to share customer information with the government when subpoenaed.

He said his bank had received subpoenas for customer records from “this administration, the last administration, the administration before that and the administration before that,” adding that he “disagrees with a lot of things.”

Dimon speaking on Fox News (Source: YouTube)

“The government is doing a lot of things that can irritate the banks,” he said. “So let’s take a deep breath and solve the problems, instead of blaming someone who is in this position.”

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