JPMorgan CEO Jamie Dimon has rejected claims that the bank “debanks” customers over their political or religious beliefs, saying he has spent more than a decade trying to reform the rules around account closures.
Speaking on Fox News’ Sunday Morning Futures on Sunday, Dimon said JPMorgan has severed ties with individuals across a wide range of backgrounds, but political affiliation has “never” been a deciding factor.
The comments come after Devin Nunes — chair of the President’s Intelligence Advisory Board and CEO of Trump Media — alleged that the company was debanked by JPMorgan. He also claimed it was one of more than 400 Trump-linked individuals and groups whose banking records were subpoenaed by special counsel Jack Smith during an investigation.
Jack Mallers, CEO of Bitcoin Lightning payments firm Strike, similarly accused JPMorgan last month of shutting down his personal accounts without explanation, fueling speculation about a new “Operation Chokepoint 2.0.”
Houston Morgan, head of marketing at non-custodial crypto platform ShapeShift, shared a comparable experience in November, adding to the scrutiny over how major banks handle politically sensitive or crypto-related accounts.
“People have to grow up here, OK, and stop making up things and stuff like that,” Dimon said. “I can’t talk about an individual account. We do not debank people for religious or political affiliations.
“We do debank them. They have religious or political affiliations. We debank people who are Democrats. We debank people who are Republicans. We have debanked different religious folks. Never was that for that reason.”
Dimon Calls for Changes to Debanking Rules
Crypto companies have long reported sudden account closures and banking service denials, often arguing that such actions are part of a broader, policy-driven effort to restrict the digital asset industry.
Dimon pushed back on that narrative, saying he opposes debanking altogether and wants to see changes to the reporting requirements that can trigger these account shutdowns.
“I actually applaud the Trump administration, who’s trying to say that debanking is bad and we should change the rules. Well, damn it, I have been asking to change the rules now for 15 years. So change the rules.”
Dimon described current debanking practices as “really customer unfriendly,” noting that accounts are often shut down over suspicions, negative media coverage, or other incomplete information.
In August, President Donald Trump signed an executive order instructing banking regulators to investigate debanking claims raised by crypto firms and conservative groups.
JPMorgan Has Suggested Ways to Reduce Debanking, Says Dimon
Dimon stressed that banks are required to share information with the government only when legally obligated. “We don’t give information to the government just because they ask. We’re subpoenaed. We are required by court to give it to the government,” he said, adding that JPMorgan has complied with subpoenas under multiple administrations, even when he disagreed with the requests.
He said the bank has proposed recommendations to reduce excessive reporting and minimize debanking incidents.
“The government does a lot of things that can anger banks. So let’s just take a deep breath and fix the problems instead of blaming someone who’s put in that position,” Dimon said.
He added that both major political parties have applied pressure on banks at different times, making them “equal offenders” in influencing banking practices.
“Democratic and Republican governments have come after us both; let’s not act like this is just one side doing this. This has been going on for a long time. And we should stop militarizing the government that kind of way.”
