JPMorgan Chase already admitted in court it shut down over 50 of Trump's accounts after January 6.
Now the Justice Department wants to know who else they did it to.
And the banks are going to have to answer.
Pirro Drops the Hammer on Wall Street
US Attorney Jeanine Pirro's Washington, DC office has sent sweeping criminal subpoenas to JPMorgan Chase, Bank of America, Wells Fargo, and other major banks demanding the names of every customer they cut off – and a written explanation for why each account was closed.
This is not a polite inquiry.
Federal subpoenas carry legal weight, and ignoring them means contempt proceedings.
https://twitter.com/OffThePress1/status/2064798860686270617?s=20
Pirro's prosecutors are eyeing charges under the Financial Institutions Reform, Recovery and Enforcement Act of 1989 – the same heavyweight fraud statute the feds used to pummel banks after the 2008 mortgage meltdown.
That law carries a 10-year statute of limitations – long enough to reach back and cover every account closure that followed January 6th.
The banks are already scrambling.
JPMorgan, Bank of America, and Wells Fargo all declined to comment.
The Paper Trail They Didn't Think Anyone Would Find
This isn't just about Trump.
The Office of the Comptroller of the Currency found early evidence last December that the country's nine biggest banks had systematically debanked customers across oil and gas, coal, firearms, and adult entertainment – and then pointed to the banks' own ESG pledge documents as evidence of why.
The banks had been bragging in writing about their climate commitments and racial-equity goals while insisting in public that account closures were purely about compliance.
That's the paper trail.
Trump's lawyers called JPMorgan's February court admission a "devastating concession" – the bank acknowledged shutting down over 50 accounts belonging to Trump and his businesses after January 6.
https://twitter.com/RedWavePress/status/2065070929307107501?s=20
Melania lost her accounts too.
Barron was denied the chance to open one.
Capital One killed more than 300 accounts tied to Trump businesses.
The Trump family has now sued both banks.
And every conservative business owner, gun dealer, and crypto founder who got a letter saying their account was closed "due to business reasons" – they're in this probe too.
This Is What Operation Choke Point Always Looked Like
Here's what the banks don't want you thinking about.
Obama ran a program called Operation Choke Point starting in 2013 – a DOJ initiative that pressured banks to cut ties with gun dealers, payday lenders, and other industries Democrats wanted strangled.
No charges required.
No crimes proven.
Just regulatory pressure and the threat of reputational risk – a federal wink and a nod that said certain customers weren't welcome anymore.
https://twitter.com/shadygrooove/status/2065081134460080156?s=20
Trump killed it in 2017.
Then Biden brought it back.
"Operation Choke Point 2.0" went after crypto founders, conservative businesses, and anyone associated with industries the left wanted defunded.
Marc Andreessen told Joe Rogan he personally knew 30 tech founders who got debanked.
An FBI whistleblower testified before Congress that Bank of America voluntarily handed over the banking records of anyone in Washington DC on January 6th – without the FBI even asking.
They did it on their own.
Trump signed an executive order last August banning politicized debanking and directing regulators to refer cases to the Justice Department.
The regulators never did it.
Pirro's office didn't wait.
Jamie Dimon Is Running Out of Places to Hide
For five years, Jamie Dimon and his lawyers had one move: say nothing, admit nothing, and let the "compliance rules" defense do the work.
https://twitter.com/MichaelARothman/status/2065085639000019438?s=20
That's over.
Pirro's prosecutors can now pull every internal email, every risk committee minute, every account review memo the banks buried under privilege claims for half a decade.
If those documents show what the OCC's investigation already suggested – that banks were flagging conservatives by name, scoring accounts against ESG commitments, and quietly blacklisting anyone connected to January 6th – Dimon isn't looking at a civil settlement.
He's looking at criminal exposure under a statute that put bank executives in prison after 2008.
The banks bet that Trump would complain and eventually move on.
He sued them instead.
Then he signed an executive order.
Then he put Jeanine Pirro in the DC US Attorney's chair.
And now she's coming with subpoenas.
They picked the wrong guy to debank.
Sources:
- James Franey, "Justice Department opens sweeping 'debanking' probe into JPMorgan, Bank of America and more," New York Post, June 10, 2026.
- "US Attorney Pirro Opening Probe of 'Debanking' by America's Biggest Financial Institutions," The Daily Signal, June 10, 2026.
- "DOJ Subpoenas Major Banks In Probe Of Alleged Political Debanking," Just The News, June 10, 2026.
- "JPMorgan concedes it closed Trump's accounts after Jan. 6 attack," Associated Press via Washington Times, February 21, 2026.
- "Bank executives blow the whistle on how Obama, Biden admins pressured them to debank conservatives," Fox Business, August 2025.
- "Public Privileges Demand Public Responsibility in Banking," The Heritage Foundation.