Public Event Detail
JPMorgan, BofA, Wells Fargo Subpoenaed By DOJ In Trump's Explosive 'Debanking' Crackdown: Report
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Event summary
The Department of Justice has subpoenaed major banks including JPMorgan Chase, Bank of America, and Wells Fargo as part of former President Donald Trump's "debanking" crackdown. The probe investigates allegations that banks have politically motivated account closures, particularly for conservatives and politically sensitive industries like oil, gas, and firearms. This escalates after Trump's $5 billion lawsuit against JPMorgan Chase and previous findings by the OCC regarding improper service denials by nine U.S. banks.