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JPMorgan CEO Jamie Dimon annual letter cites risks in geopolitics, AI, private markets

admin — Mon, 06 Apr 2026 14:03:29 +0000

JPMorgan Chase CEO Jamie Dimon is calling for a broad recommitment to American ideals as his bank navigates geopolitical uncertainty, a teetering economy and the revolutionary impact of artificial intelligence.

Dimon in his annual letter to shareholders, published Monday, noted the country’s 250th anniversary as “the perfect time to rededicate ourselves to the values that made this great nation of ours — freedom, liberty and opportunity.”

“The challenges we all face are significant. The list is long but at the top are the terrible ongoing war and violence in Ukraine, the current war in Iran and the broader hostilities in the Middle East, terrorist activity and growing geopolitical tensions, importantly with China,” Dimon said. “Even in troubled times, we have confidence that America will do what it has always done — look to the values that have defined our singular nation and sustained our leadership of the free world.”

Dimon, the longtime leader of the world’s largest bank by market cap, is among the most outspoken of U.S. corporate leaders. His annual letter offers not only a matter of record for his firm’s performance, but also sweeping perspectives on the global state of affairs.

In Monday’s letter, Dimon noted headwinds including global conflicts, persistent inflation, private market upheaval and what he called “poor bank regulations.”

Dimon said that while regulations like those put in place after the 2008 financial crisis “accomplished some good things … they also created a fragmented, slow-moving system with expensive, overlapping and excessive rules and regulations — some of which made the financial system weaker and reduced productive lending.”

He specifically cited negative consequences of capital and liquidity requirements, the current construction of the Federal Reserve’s stress test and a “badly handled” process at the Federal Deposit Insurance Corp.

Dimon also said JPMorgan’s reaction to revised proposals for Basel 3 Endgame and a global systemically important bank, or GSIB, surcharge — issued by U.S. regulators last month — were “mixed.”

“While it was good to see that the recent proposals for the Basel 3 Endgame (B3E) and GSIB attempted to reduce the increase in required capital from the 2023 proposals, there are still some aspects that are frankly nonsensical,” Dimon said.

The CEO said with the aggregate proposed surcharges of about 5%, the bank would need to hold “as much as 50% more capital across the vast majority of loans to U.S. consumers and businesses when compared with a large non-GSIB bank for the same set of loans.”

“Frankly, it’s not right, and it’s un-American,” he said.

On trade and geopolitics

Dimon identified geopolitical tensions as the primary risk facing his bank, namely the wars in Ukraine and Iran and their impacts on commodities and global markets — deeming war “the realm of uncertainty.”

“The outcome of current geopolitical events may very well be the defining factor in how the future global economic order unfolds,” he said. “Then again, it may not.”

He also cited a “realignment of economic relations in the world” brought on by U.S. trade policy. U.S. President Donald Trump has made tariffs a signature policy of his second term in office, introducing higher duties on dozens of trade partners and import categories.

“The trade battles are clearly not over, and it should be expected that many nations are analyzing how and with whom they should create trade arrangements,” Dimon said. “While some of this is necessary for national security and resiliency, which are paramount, it is hard to figure out what the long-term effects will be.”

On private markets

Dimon also spoke to recent upheaval in the private markets, as fears around loans made to software firms spur massive redemption requests at private credit funds.

“By and large, private credit does not tend to have great transparency or rigorous valuation ‘marks’ of their loans — this increases the chance that people will sell if they think the environment will get worse — even if actual realized losses barely change,” Dimon said.

The executive added that actual losses are already higher than they should be relative to the environment.

“However this plays out, it should be expected that at some point insurance regulators will insist on more rigorous ratings or markdowns, which will likely lead to demands for more capital,” he said.

On AI

Dimon reiterated Monday that the pace of AI adoption is unlike any technology that came before it. He said while its implementation will be “transformational,” it remains to be seen how the AI revolution will unfold.

“Overall, the investment in AI is not a speculative bubble; rather, it will deliver significant benefits. However, at this time, we cannot predict the ultimate winners and losers in AI- related industries,” Dimon said.

“We will not put our heads in the sand. We will deploy AI, as we deploy all technology, to do a better job for our customers (and employees),” he wrote.

JPMorgan has been at the forefront of Wall Street firms introducing AI at every level of its business. Last year, JPMorgan Chief Analytics Officer Derek Waldron gave CNBC an early demonstration into how it’s using agentic AI to speed up work and improve results for customers and shareholders.

In February, Dimon said AI was reshaping JPMorgan’s workforce and that the bank had “huge redeployment plans” for employees.

“We have focused on some of the ‘known and predictable’ and some of the ‘known unknown’ events,” he said. “But huge technological shifts like AI always have second- and third-order effects as well that can deeply impact society. … We should be monitoring for this kind of transformation, too.”

— CNBC’s Leslie Picker and Ritika Shah contributed to this report.

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JPMorgan taps Dwyane Wade, Tom Brady in athlete wealth management push

admin — Wed, 18 Mar 2026 20:35:07 +0000

Ally Love, Dwyane Wade, JPMorgan Wealth Management CEO Kristen Lemkau, Tom Brady, A’ja Wilson and Megan Rapinoe during the JPMorganChase Athlete Council meeting on March 18, 2026.

Shawn McMillan | CNBC

JPMorgan Chase has recruited some of the biggest names in American sports to help tackle a persistent problem: professional athletes going broke.

The bank on Wednesday announced an initiative called the JPMorgan Chase Athlete Council, led by two-time NBA Hall of Famer Dwyane Wade and featuring other high-profile athletes, including Tom Brady, Sue Bird, Alex Morgan, Megan Rapinoe, A’ja Wilson and Jalen Brunson.

The stars will meet with JPMorgan executives to help the bank craft programs designed to serve athletes from college to professional life and retirement, JPMorgan said in a release.

The move reflects growing competition among banks and wealth managers to serve athletes, the most prominent of whom are increasingly becoming entrepreneurs, investors and media personalities.

Most athletes don’t receive personal finance education in school, and their relatively short careers leave a narrow earning window that requires careful planning, according to JPMorgan, the biggest U.S. bank by assets. About one in six NFL players declare bankruptcy within 12 years of retiring, the bank said.

“We heard a lot of the same thing over and over again, which is a lot of young athletes coming into money very suddenly, they develop unsustainable lifestyles, they don’t always get great advice around them, and those are the lucky ones,” Kristin Lemkau, head of JPMorgan Wealth Management, told CNBC’s Leslie Picker on Wednesday.

Wade said in the release that the initiative gives athletes a chance to share hard-won experiences with the next generation.

“Having the right educational resources and guidance is critical to making smart decisions about money as your career evolves,” he said.

Tom Brady, A’ja Wilson and Megan Rapinoe during the JPMorganChase Athlete Council meeting on March 18, 2026.

Shawn McMillan | CNBC

WNBA player Wilson said it’s important to her to be able to share money management skills with the next cohort of professional athletes.

“We’re starting to try to turn the page and help the youth in the next generation understand that you have to build trust, you have to build boundaries and know exactly how you want to operate with your money,” Wilson told CNBC.

The bank is also standing up an Athlete Center of Excellence staffed by financial professionals with sports experience and launching a content hub with checklists for athletes navigating the name, image and likeness, or NIL, system and guides for assembling a roster of advisors.

— CNBC’s Laya Neelakandan contributed to this report.

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JPMorgan reins in lending to private credit firms, marks down software loans

admin — Wed, 11 Mar 2026 13:01:00 +0000

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the America Business Forum in Miami, Florida, US, on Thursday, Nov. 6, 2025.

Eva Marie Uzcategui | Bloomberg | Getty Images

JPMorgan Chase is reducing its exposure to the private credit industry by marking down the value of loans held by the bank as collateral, according to a person with knowledge of the moves.

The bank’s giant Wall Street trading division has reduced the value of loans — most of which were made to software firms — sitting within the financing portfolios of private credit clients, said the person, who declined to be identified speaking about the client interactions.

JPMorgan’s move indicates the biggest U.S. bank by assets wants to get ahead of potential turbulence involving private credit loans to software companies. CEO Jamie Dimon, who has guided his bank through multiple crises in his two decades atop JPMorgan, is known to constantly remind his executives about the risk that borrowers won’t be able to repay their loans.

Software firms have come under scrutiny in recent months as model updates from OpenAI and Anthropic drive concerns that some providers will be disrupted by AI. The worries have ignited a downcycle for private credit players as retail investors yanked funds in recent weeks, driving abnormally high redemptions at firms including Blue Owl and Blackstone.

The adjustments were made in JPMorgan’s financing business, where private credit firms borrow money to amplify fund returns in what’s known as “back-leverage.” The business is considered relatively risky because it layers leverage upon leverage — amplifying losses when the underlying loans sour.

By marking down the collateral for that leverage, JPMorgan is reducing the ability of private credit firms to borrow against their loans, and in some cases could even force firms to post more collateral.

The size of the loans impacted and the extent of the markdowns at JPMorgan couldn’t be determined.

JPMorgan is potentially the first major bank to take such steps, according to the FT, which was first to report the bank’s markdowns.

The moves are a preemptive step driven by changes in market valuations rather than actual loan losses, said the person with knowledge of the bank, who characterized the move as financial discipline, “rather than waiting until a crisis comes.”

JPMorgan previously pulled back leverage to the industry during the early days of the Covid pandemic, according to the person.

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JPMorgan Chase to match $1,000 contribution to ‘Trump accounts’

admin — Wed, 28 Jan 2026 17:08:20 +0000

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks at the US Chamber of Commerce in Washington, Jan. 15, 2026.

Luke Johnson | Bloomberg | Getty Images

JPMorgan Chase and Bank of America said Wednesday in separate releases that the firms will match the U.S. government’s one-time $1,000 contribution to children’s retirement savings accounts for eligible employees, the latest corporations to announce such a measure.

The so-called Trump accounts are part of a pilot program that deposits $1,000 from the U.S. Treasury into tax-advantaged accounts for eligible children born in the U.S. between Jan. 1, 2025, and Dec. 31, 2028.

The program, partly the brainchild of hedge fund manager Brad Gerstner, aims to help narrow the U.S. wealth gap by encouraging long-term saving and investing from birth. It has attracted commitments from a growing list of wealthy individuals, from billionaires such as Michael and Susan Dell and Ray Dalio to rap artist Nicki Minaj.

“JPMorgan Chase has demonstrated a long-term commitment to the financial health and well-being of all of our employees and their families around the world, including more than 190,000 here in the United States,” CEO Jamie Dimon said in a release. “By matching this contribution, we’re making it easier for them to start saving early, invest wisely, and plan for their family’s financial future.”

In a memo sent to employees Wednesday first reported by Reuters, Bank of America said it applauded the government’s “innovative solutions” for employee savings.

Financial firms dominate the list of companies that are matching contributions for the new accounts. Besides JPMorgan and Bank of America, the two largest U.S. banks by assets, BlackRock, BNY, Robinhood, SoFi and Charles Schwab have made similar announcements.

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JPMorgan confirms Trump claim that CEO Dimon was not offered Fed chair job

admin — Mon, 19 Jan 2026 01:29:36 +0000

JPMorgan Chase CEO Jamie Dimon on Saturday confirmed he was not asked to be Federal Reserve chair, hours after President Trump disputed a report saying he offered Dimon the role.

Earlier this week, the Wall Street Journal reported Trump offered to nominate Dimon for Fed chair, although the news outlet added the JPMorgan boss took the offer as a joke. Trump in a Truth Social post on Saturday denied that report, and JPMorgan later affirmed the president’s assertion.

“There was no job offer,” Dimon said in a statement.

JPMorgan Chase CEO Jamie Dimon said President Trump did not offer to nominate him to be Federal Reserve chairman. AP

In an email to Reuters, bank spokesperson Trish Wexler said she should have been “more vigilant” in correcting the Wall Street Journal story before it was published.

Trump on Saturday also posted he plans to sue JPMorgan sometime in the next two weeks for allegedly “debanking” him following the Jan. 6, 2021 attack on the US Capitol by his supporters.

Wexler said the bank would not discuss specific clients, but the bank believes “that no one’s account should be closed because of political or religious beliefs.”

“We appreciate that this Administration has moved to address political debanking and we support those efforts,” she said.

Dimon, one of Wall Street’s most influential figures, has come out against some of the Trump administration’s policies.

Trump said on Truth Social on Saturday that he intends to sue JPMorgan for “debanking” him following the Jan. 6, 2021 attack on the US Capitol. REUTERS

Earlier this week, Dimon voiced support for the independence of the Fed, days after the Justice Department opened a criminal investigation into current Fed Chair Jerome Powell, whose term expires in May.

Dimon and top JPMorgan executives have also pushed back on the Trump administration’s proposed 10% cap on credit card interest rates, saying it would result in millions of households losing access to credit.

Trump on Wednesday suggested in a Reuters interview he was inclined to nominate either White House economic adviser Kevin Hassett or former Fed Governor Kevin Warsh to replace Powell.

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Trump threatens to sue JPMorgan Chase for ‘debanking’ him after Jan. 6

admin — Sat, 17 Jan 2026 21:25:09 +0000

President Trump escalated his feud with JPMorgan Chase on Saturday, threatening to sue the banking behemoth in the next two weeks for abruptly closing his accounts after the Jan. 6 Capitol riots, under pressure from the Biden administration.

JPMorgan is wrong for “incorrectly and inappropriately DEBANKING me after the January protest, a protest that turned out to be correct for those doing the protesting,” Trump wrote on his Truth Social.

The split came after decades-long ties — and the bank gave him just 20 days to move hundreds of millions of dollars, Trump has said.

President Trump escalated his feud with JPMorgan Chase, threatening Saturday to sue the banking behemoth in the next two weeks for “debanking” him after the Jan. 6 Capitol riots. REUTERS

The threat comes as JPMorgan has emerged as one of the most vocal critics of the Trump Justice Department’s criminal probeinto Federal Reserve Chair Jerome Powell, with JPMorgan CEO Jamie Dimon warning that undermining the Fed’s independence could backfire by raising inflation expectations and interest rates.

At the same time, the White House has taken aim at banks’ profits, pushing a proposal to cap credit card interest rates at 10% for a year — a move JPMorgan executives have warned could restrict access to credit and hurt consumers.

Trump’s lawsuit threat revives a years-old grievance tied to his abrupt removal from JPMorgan after he left office in 2021, a move he has long described as politically motivated.

As The Post exclusively reported at the time, JPMorgan and Bank of America cut ties with Trump following the Jan. 6 Capitol riot after pressure from Biden’s banking regulators, who warned financial institutions that continuing to do business with controversial figures could expose them to heightened scrutiny under so-called “reputational risk” rules.

Sources familiar with the decision told The Post at the time that regulators at the Office of the Comptroller of the Currency, the FDIC and the Federal Reserve signaled that banking Trump could create compliance problems tied to appearances, even absent any criminal wrongdoing.

JPMorgan has said it does not close accounts for political reasons, but did not deny that reputational risk considerations played a role in decisions made during that period, as banks faced the threat of increased oversight, fines and regulatory action.

Trump has argued the move amounted to financial punishment. The Post has reached out to JPMorgan.

Trump also dismissed a Wall Street Journal report that he had offered JPMorgan CEO Jamie Dimon the job of Federal Reserve chair as “totally untrue.”

The Journal is owned by Dow Jones — a subsidiary of The Post’s corporate parent News Corp. A Journal spokesperson said “we stand by our reporting.”

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JPMorgan Chase (JPM) earnings Q4 2025

admin — Tue, 13 Jan 2026 12:07:20 +0000

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the America Business Forum in Miami, Florida, US, on Thursday, Nov. 6, 2025.

Eva Marie Uzcategui | Bloomberg | Getty Images

JPMorgan Chase on Tuesday posted fourth-quarter results that topped expectations on better-than-expected revenue from the bank’s trading operations.

Here’s what the company reported:

Adjusted earnings: $5.23 a share vs. $5 consensus estimate from LSEG
Revenue: $46.77 billion vs. $46.201 billion expected

The company said profit fell 7% to $13.03 billion, or $4.63 per share, because of a pre-announced $2.2 billion reserve tied to its takeover of the Apple Card loan portfolio from Goldman Sachs. Excluding the 60 cent per share hit from that transaction, adjusted earnings of $5.23 topped analysts’ expectations.

Companywide revenue rose 7% to $46.77 billion as net interest income also rose by 7% to $25.1 billion, roughly matching analyst expectations for NII.

Equities trading revenue surged 40% to $2.9 billion, about $350 million more than analysts had expected, as the company cited strength across its operations, especially in its business catering to hedge funds. Fixed income trading revenue rose 7% to $5.4 billion, about $110 million more than expected.

Banks have enjoyed a Goldilocks-type environment for the last few quarters, with a rebound in Wall Street trading and investment banking, falling interest rates, stable consumer credit and deregulation providing a lift for the sector. High stock levels have also buoyed banks’ wealth management divisions.

The KBW Bank Index climbed 29% last year, the second year in a row that the big bank benchmark exceeded the gains of the S&P 500.

So analysts will be keen to hear how much momentum from 2025 is expected to carry over into this year. Of particular concern is whether there are any cracks in spending amid signs that the labor market may be weakening, as well as guidance around the strength of Wall Street dealmaking.

JPMorgan Chase CEO Jamie Dimon will likely be asked about President Donald Trump’s demand for the industry to cap credit card rates at 10%, as well as questions over the independence of the Federal Reserve.

Bank of America, Citigroup and Wells Fargo are scheduled to report results Wednesday, with Goldman Sachs and Morgan Stanley reporting Thursday.

This story is developing. Please check back for updates.

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JPMorgan CEO Jamie Dimon hosts birthday bash for King Charles III at bank’s NYC headquarters

admin — Sat, 22 Nov 2025 02:48:57 +0000

JPMorgan Chase CEO Jamie Dimon hosted an extravagant party to celebrate King Charles’ 77th birthday on Thursday in the bank’s shiny new Manhattan skyscraper.

It was an all-out birthday bash – what Brits might call a bit of a “knees-up” – complete with a huge projection of the Union Jack on the side of JPMorgan’s new $3 billion headquarters.

Though the king himself was not there, members of the British Consulate and celebrities like actor Brian Cox and former Prime Minister Tony Blair stopped by to cheer “Long live the king” – after first cheering for President Trump, according to The Wall Street Journal.

JPMorgan CEO Jamie Dimon hosted an extravagant party in honor of King Charles’ 77th birthday. REUTERS

Charles celebrated his birthday on Nov. 14 after a spate of health issues including a cancer diagnosis. The palace has not specified what kind of cancer the king has.

The event in the new Lord Norman Foster-designed building featured classic British nosh like Yorkshire pudding and beef pie with Stilton cheese, in a room decked out with photos of the royal family and former President Reagan and Trump, according to The Journal.

There were also tables with sushi and nigiri sushi for those adverse to British pub grub.

A photo of the Union Jack projected on the side of JPMorgan’s new headquarters in Manhattan. Reddit/GirlyPopTart

Members of Parliament and British nobles wearing kilts chatted with reality TV stars like Ubah Hassan from “The Real Housewives of New York City” and Mary Holland Nader from “Love Thy Nader,” The Journal reported.

The belated birthday party might have seemed unusual for a number of reasons – not only was Charles thousands of miles away; the festivities took place in a country readying to celebrate 250 years of independence from the Brits.

But it wasn’t such an unexpected move for Dimon, who has been growing closer with British Prime Minister Keir Starmer’s government and is friendly with French President Emmanuel Macron. He met the king during a global investment summit in the UK in 2023.

Dimon used the event to spread his goal of bringing the US and Europe closer together, warning of the dangers of a weakened trans-Atlantic alliance as he thanked the British for their help in countering Nazism.

“There’s a whiskey bar back there,” he said on a less serious note to roughly 400 guests as he took to the stage. “Thank God, mostly Scottish whiskey.”

Varun Chandra, Starmer’s special adviser on business and investment, made a speech that flopped with a string of “very cringeworthy and overused Dad jokes” about the differences between Britain and the US, an attendee said.

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Guests told The Post that Chandra’s speech made passing references to how Britons pronounce “z” as “zed” and how Americans don’t really understand “football” — what is known as soccer on this side of the Atlantic.

“Nobody laughed. Everyone was just waiting for him to finish,” said an insider who was among the 400 or so onlookers.

Dimon was surrounded all night by people angling to take photographs with the exec – staying behind with a drink in hand for more than two hours after many JPMorgan execs had already left, according to The Journal.

A major history buff, Dimon nodded to JPMorgan’s British ties during his speech.

King Charles III celebrated his 77th birthday on Nov. 14. Tayfun Salci/ZUMA Press Wire / SplashNews.com

Founder J. Pierpont Morgan came from a family of English merchants, and his son, Jack Morgan, was good friends with King George VI – Charles’ grandfather.

But representatives of the British Consulate didn’t skim over the event’s blatant irony.

“We’re just about to begin the celebrations for 250 years of American independence from the British monarch, and here we stand in this temple of American freedom and prosperity to celebrate the birthday of the British monarch,” Chandra said during his speech.

Back in the 1600s, King Charles II ousted the Dutch from New Amsterdam and gave the territory to his brother, the Duke of York – renaming it New York in his honor.

JPMorgan did not immediately respond to The Post’s request for comment.

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Charlie Javice co-defendant Olivier Amar sentenced to over 5 years in prison for defrauding JPMorgan

admin — Thu, 06 Nov 2025 07:06:13 +0000

A former finance executive convicted of helping Charlie Javice defraud JPMorgan Chase into buying the college financial aid startup Frank for $175 million was sentenced on Wednesday to 68 months in prison.

Olivier Amar, who was Frank’s chief growth officer, was sentenced by US District Judge Alvin Hellerstein in Manhattan.

Hellerstein also sentenced Javice to 85 months in prison on Sept. 29. She is expected to appeal her conviction.

Olivier Amar, shown in March, was sentenced to 68 months in prison for his role in helping Charlie Javice defraud JPMorgan Chase into buying the college financial aid startup Frank for $175 million Bloomberg via Getty Images

Lawyers for Amar did not immediately respond to requests for comment.

Javice founded Frank in 2017 and won praise for simplifying college financial aid for students and parents.

But prosecutors said that when it came time to sell the business, the defendants created a fake customer list, containing real names they bought from data brokers.

Prosecutors said the defendants did this to convince JPMorgan that Frank had about 4.25 million customers, not the approximately 300,000 it actually had.

Both defendants were convicted of bank fraud, securities fraud, wire fraud, and conspiracy to defraud.

Javice founded Frank in 2017 and won praise for simplifying college financial aid for students and parents. Alec Tabak

Prosecutors said Amar deserved at least six years in prison. Lawyers for Amar sought no prison time, saying he did not engineer the fraud, and lost his livelihood and reputation.

The Montreal native expects to be deported following his sentence, court papers show.

JPMorgan Chief Executive Jamie Dimon called buying Frank a “huge mistake.”

The largest US bank on Monday asked a Delaware judge to end its court-ordered obligation to continue paying Javice’s and Amar’s legal bills, which it said have totaled a “breathtaking” $115 million.

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JPMorgan discloses US probe over alleged conservative ‘debanking’ scandal

admin — Wed, 05 Nov 2025 17:03:14 +0000

The US government is investigating JPMorgan Chase over an alleged “debanking” scandal after President Trump claimed the nation’s biggest bank was rejecting customers with conservative political ties.

In a quarterly filing on Wednesday, JPMorgan Chase revealed it is “responding to requests from government authorities and other external parties regarding, among other things, the firm’s policies and processes and the provision of services to customers and potential customers.”

JPMorgan claimed the probe is a response to Trump’s executive order in August demanding regulators look into policies that might have led to “politicized or unlawful debanking.”

JPMorgan CEO Jamie Dimon arrives at a gala in October. AFP via Getty Images

Earlier in August, Trump accused JPMorgan and Bank of America of rejecting more than $1 million of his deposits for political reasons soon after he left the White House in 2021.

“I was loaded up with cash and they told me, ‘I’m sorry, sir, we can’t have you. You have 20 days to get out.’ I said, ‘You’ve got to be kidding. I’ve been with you for 35, 40 years,’” Trump said, referring to JPMorgan.

First lady Melania Trump has also claimed her banking account was shuttered shortly after the Jan. 6 riots on the Capitol.

In January, Trump publicly blasted Bank of America CEO Brian Moynihan at the World Economic Forum in Switzerland.

“I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank,” Trump said by video call.

“And I don’t know if the regulators mandated that because of [President Joe] Biden or what…I hope you’re going to open your banks to conservatives, because what you’re doing is wrong.”

In its own quarterly report last week, Bank of America also said it is “responding to demands and requests regarding ‘fair access to banking’” following the executive order.

President Trump and first lady Melania Trump at the White House’s Halloween event. Aaron Schwartz – Pool via CNP/Shutterstock

Bank of America declined to comment. JPMorgan did not immediately respond to The Post’s request for comment.

During the Biden administration, companies in certain industries, like cryptocurrency, and those supporting conservative causes, like the Second Amendment, claimed they were debanked for political reasons.

Bank lobby groups argued it was likely due to regulatory overreach in taking on so-called politically exposed persons as clients.

Over the summer, former Republican Kansas Gov. Sam Brownback alleged JPMorgan closed his account due to his conservative and religious views – a claim the bank denied.

President Trump has accused JPMorgan Chase of debanking conservatives. Christopher Sadowski

Trump’s executive order means regulators are looking into concepts like “reputation risk,” a factor in accepting a new client that could prompt banks to turn customers away for political reasons.

In his order, Trump wrote that victims of debanking have “suffered frozen payrolls, debt and crushing interest, and other significant harms to their livelihoods, reputations, and financial well-being.”

Banks that have debanked customers may be subject to fines or other penalties from regulators, according to the order.

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