JPMorgan Chase admits to closing Trump's account after Capitol Hill riot.

There have been new developments in the lawsuit filed by President Trump against JPMorgan Chase Bank. According to the Associated Press on the 21st, JPMorgan Chase admitted that after the Capitol Hill riots on January 6, 2021, this large American bank closed the bank accounts of President Trump and several of his businesses. In a court filing submitted this week, JPMorgan Chase's former CEO Jamie Dimon wrote, "In February 2021, JPMorgan Chase notified the plaintiff that certain accounts held in JPMorgan Chase private banking and commercial banking would be closed." According to the Associated Press, this is the first time JPMorgan Chase has formally admitted in writing to closing Trump's accounts after the Capitol Hill riots. A spokesperson for Trump's legal team called the disclosure "a shocking concession." Trump's lawyers filed a lawsuit on January 22 in a Florida court, accusing JPMorgan Chase and its CEO Jamie Dimon of closing the plaintiff's accounts for political reasons, seriously disrupting business operations, and seeking at least $5 billion in damages. JPMorgan Chase stated that the lawsuit is baseless, and the bank does not close accounts for political or religious reasons, but rather due to legal, compliance, or regulatory risks.