Feb. 22 (UPI) -- JPMorgan says it shuttered over 50 of President Donald Trump's accounts following the Jan. 6 Capitol attack in 2021.
The news comes after a court filing in the president's $5 billion lawsuit accusing the nation's biggest bank of "debanking" him and associated entities for "political and social" reasons revealed that it had closed the accounts after the attack.
"While we regret President Trump has sued us, we believe the suit has no merit," the bank said at the time. "We do close accounts because they create legal or regulatory risk for the company. We regret having to do so but often rules and regulatory expectations lead us to do so."
"We have been asking both this Administration and prior administrations to change the rules and regulations that put us in this position, and we support the Administration's efforts to prevent the weaponization of the banking sector," the statement continued.
JP Morgan executive Dan Wilkening said correspondence related to the account closures was sent in February 2021.
