Federal prosecutors in Washington have issued wide-ranging subpoenas to several of the largest US banks, including JPMorgan Chase, Bank of America and Wells Fargo, seeking records tied to claims that customers were denied banking services or had accounts shut for political…
asons, according to the Wall Street Journal. The requests were sent by the US Attorney’s Office in Washington, DC, led by Jeanine Pirro
They broaden an effort backed by President Donald Trump to examine whether banks treated conservatives and other politically sensitive sectors unfairly, including businesses linked to his family. Trump said last year that after his first term ended, JPMorgan and Bank of America closed his accounts and refused to open new ones for him following the violence at the Capitol. In August, Trump signed an executive order telling banking supervisors to look into whether lenders had engaged in “politicised or unlawful debanking” and to respond as needed, including through financial sanctions.
Banks have already handed substantial amounts of material to regulators, but Pirro’s office is now separately seeking information from major institutions, people familiar with the matter said. Lenders have said account closures are not based on religion or politics. They have argued that decisions involving certain clients or sectors reflect legal duties to monitor for criminal conduct and money laundering, as well as other supervisory demands designed to protect the banking system.