Jamie Dimon Pushes Back on Debanking Claims as Pressure Grows on US Banks

JPMorgan CEO Jamie Dimon has rejected accusations that the bank cuts customers off for political or religious reasons. Speaking on Fox News’ Sunday Morning Futures, Dimon said the bank closes accounts across many types of customers. But, personal beliefs have never guided those decisions.

His comments come after a string of public complaints. Devin Nunes, chair of the president’s intelligence advisory board and head of Trump Media, said his company was cut off by JPMorgan. He also said more than 400 Trump linked individuals and groups saw their banking records pulled as part of a probe led by special counsel Jack Smith

Jack Mallers, the head of Strike, said last month that his personal accounts were shut with no explanation. Houston Morgan from ShapeShift described a similar experience last year.

Dimon dismissed the idea that the bank targets people for their views. He said customers from many backgrounds have had accounts closed over time, yet none of those actions had political ties. He added that he cannot speak about specific cases but insisted the accusations are unfounded.

Dimon Calls for Changes to Debanking Rules

Many crypto firms say they have faced denials of services for years. Some argue that these actions are part of a broader effort to restrain the sector. Dimon said he dislikes the current system and has pushed for new rules that reduce situations where banks are required to cut ties with customers.

He said reporting requirements can force banks to act on suspected risks or press coverage. Dimon noted that the Trump administration wants the rules changed and said he has been urging the same for about 15 years. He described the current process as unfriendly for customers and said it often sweeps up people who did nothing wrong.

In August, President Trump signed an order telling banking regulators to review claims of debanking made by crypto companies and conservative groups.

JPMorgan Says Subpoenas Leave Little Flexibility

Dimon said banks must hand over information when required by court order. He added that his bank has followed subpoenas across multiple administrations. Notably, JPMorgan has proposed ways to reduce reporting loads and limit debanking incidents.

He also said both political sides pressure banks and that the problem is not tied to one party. Dimon called for calmer discussion and cooperation to solve the issue instead of pointing fingers at banks caught between regulations and political disputes.

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