Jamie Dimon Responds to Accusations by Trump Media CEO

JPMorgan Chase’s CEO, Jamie Dimon, addressed claims from Trump Media’s CEO, Devin Nunes, who alleged that the bank had closed the company’s account. Dimon urged people to “stop making stuff up” during a segment on Sunday Morning Futures with Maria Bartiromo.

Nunes, a former congressman, had mentioned that Trump Media’s bank records were subpoenaed as part of an investigation related to the 2020 presidential election. In a clip from the show, he questioned why JPMorgan would close their account if, as he claimed, Dimon had said the bank doesn’t close accounts for political reasons.

Dimon firmly responded, “People have to grow up here, so we have to stop making stuff up.” He clarified that the bank doesn’t deny services to individuals based on religious or political beliefs. “I can’t talk about individual accounts,” he added, emphasizing that reasons for any account terminations aren’t based on such affiliations.

He further mentioned that account closures could happen regardless of political affiliation, stating, “We’re eliminating bank accounts for Democrats. We’re eliminating bank accounts for Republicans. That was never the reason.”

Former President Trump had previously criticized the Biden administration for allegedly pressuring banks to target him and conservatives, suggesting that high-level officials were influencing banking policies against Trump.

“I believe in Biden and I believe in Kamala, and I don’t think they’re smart enough to do that,” Trump said, “but I think the people around them, the high-IQ radical leftists, told the Banking Committee they’re going to do everything they can to destroy Trump.”

Dimon reiterated that the company only shares personal information when legally compelled to do so through subpoenas, indicating his compliance with such requests across multiple administrations, despite some disagreements with their nature.

He also expressed his support for changing rules around debanking, noting that he has wanted such changes for many years. “I applaud the Trump administration for trying to say that debanking is bad and the rules should change,” Dimon remarked.

In a related announcement, the Office of the Comptroller of the Currency (OCC) outlined steps to combat “illegal bank terminations” in federal banking. Additionally, Senate Republicans, led by Tim Scott (R-S.C.), are looking into a bill to reform the Bank Secrecy Act, which they believe contributed to these banking issues.