JPMorgan CEO Dimon Disputes Trump Media Debanking Claims, Calls for Regulatory Reform

JPMorgan Chase CEO Jamie Dimon has rejected claims that his bank deliberately closed accounts belonging to Trump Media and affiliated entities, telling critics to "grow up" while acknowledging broader issues with current banking regulations.

The dispute emerged after Trump Media CEO Devin Nunes reported that over 400 individuals and organizations linked to President Trump had their banking records subpoenaed by special counsel Jack Smith during an investigation. Crypto industry figures, including Strike CEO Jack Mallers and ShapeShift's Houston Morgan, have also reported sudden account closures without explanation, sparking concerns about "Operation Chokepoint 2.0."

Dimon emphasized that JPMorgan is legally required to comply with government subpoenas across multiple administrations. "The government does a lot of things that can anger banks," he said, urging stakeholders to "fix the problems" rather than blame banks caught in difficult regulatory positions.

However, Dimon expressed support for regulatory reform, stating he has spent 15 years advocating for changes to debanking rules. "I actually applaud the Trump administration, who's trying to say that debanking is bad and we should change the rules," he said, calling current regulations "customer unfriendly."

President Trump has since signed an executive order directing banking regulators to investigate debanking claims from the crypto community and conservatives.