JPMorgan Chase disclosed that it terminated more than 50 bank accounts connected to President Donald Trump shortly after he left office following his first term.

The bank confirmed Friday that “more than 50 Trump accounts” were shut down in February 2021, just weeks after the January 6, 2021, riot at the Capitol, according to The New York Times.

The disclosure came after Trump “and the Trump Organization” filed a lawsuit in January against JPMorgan Chase and its chief executive, Jamie Dimon, alleging that the bank had improperly cut off the president’s access to financial services, the newspaper reported.

According to the report, the accounts JPMorgan allegedly “debanked” included those tied to “for Trump hotels, housing developments and retail shops” across multiple states, in addition to “Trump’s personal private banking relationship that handled his inheritance:”

The accounts included those for Trump hotels, housing developments and retail shops in Illinois, Florida and New York, as well as Mr. Trump’s personal private banking relationship that handled his inheritance from his father, according to letter filed to the court.

In correspondence submitted to the court, JPMorgan did not provide a detailed explanation for the widespread closures. In one unsigned note to Mr. Trump, dated Feb. 19, 2021, the bank wrote that he would need to “find a more suitable institution with which to conduct business.”

Breitbart News’s John Nolte reported, Trump’s attorneys filed a $5 billion lawsuit against JPMorgan and Dimon, claiming that the institution debanked several of his accounts:

The lawsuit says that on February 19, 2021, Trump received notice, “without warning or provocation,” that several of his and his company’s bank accounts would be closed “just two months later, on April 19, 2021.

“In essence, JPMC debanked plaintiff’s accounts because it believed that the political tide at the moment favored doing so,” the lawsuit claims.

Before JPMorgan publicly acknowledged the account closures, the bank had sought to shift “the case be moved from Florida state court… to a federal court in New York,” according to the NYT.

{Matzav.com}