Tallahassee, Florida — November 12, 2025:
Florida Attorney General James Uthmeier has announced an official investigation into JPMorgan Chase for its alleged role in providing sensitive banking data related to Trump Media & Technology Group (TMTG) to the U.S. Department of Justice (DOJ). The move follows growing concerns about politically motivated financial discrimination—commonly referred to as “debanking.”

According to Uthmeier, his office is examining whether JPMorgan Chase unlawfully shared private financial information with Special Counsel Jack Smith’s office during what he called “spying efforts” targeting President Donald Trump’s media company. The allegations suggest that the bank provided data unrelated to TMTG’s normal business activities, including information that predates January 6, 2021.

“It’s clear that the former Biden Department of Justice was targeting its political enemies,” said Attorney General Uthmeier. “We know that JPMorgan Chase was providing sensitive banking information about Trump Media Group to the DOJ—potentially including data that had nothing to do with the company’s financial operations. These are serious concerns, and we will get to the bottom of them.”

Alleged Debanking Ahead of Trump Media’s Public Listing

The probe also focuses on claims that JPMorgan Chase shut down bank accounts belonging to Trump Media shortly before the company went public. According to Uthmeier, these actions could have significantly disrupted the company’s financial operations during a crucial period of transition.

“For any company, the days leading up to going public are critical,” he emphasized. “If a bank decides to terminate those accounts at that moment—especially for political reasons—it raises major legal and ethical questions.”

Possible Civil and Criminal Penalties

When asked about potential repercussions if wrongdoing is proven, Uthmeier stated that JPMorgan Chase could face civil penalties and fines under Florida law for discriminating against businesses within the state.

“If evidence shows coordinated fraud or misrepresentation, we could also be looking at criminal penalties,” Uthmeier said. “It’s too early to draw conclusions, but in Florida, we take debanking very seriously. We protect our consumers and businesses, and we won’t tolerate politically motivated discrimination.”

JPMorgan Chase Responds

In a statement responding to the probe, JPMorgan Chase said it does not debank customers for political reasons and is cooperating with authorities. The bank has faced similar accusations in the past, including a high-profile case involving former Kansas Governor Sam Brownback’s religious organization, which it was accused of debanking—a claim the bank denied at the time.

What “Debanking” Means

Attorney General Uthmeier clarified the term “debanking” for the public, explaining that it refers to a bank shutting off a customer’s account access due to reasons unrelated to financial misconduct—often for political or ideological differences.

“Debanking means shutting off a business or individual’s access to their bank account for politically motivated reasons,” he explained. “It’s not about taking their money—it’s about cutting off their ability to use capital. That’s dangerous for free enterprise and for the First Amendment.”

Protecting Florida Consumers and Businesses

Uthmeier reaffirmed that Florida will continue to defend the rights of individuals and businesses to bank freely without political interference. He cited previous state actions to protect Second Amendment-related businesses, such as gun store owners, and companies like GEO Group, which operates private prisons and has also reportedly faced financial discrimination.

“If you debank a Florida business because of political disagreement, you will be held accountable,” Uthmeier said. “We regulate these entities within our state, and we will enforce the law to ensure fairness and freedom.”

Broader Political and Legal Implications

The probe adds to a growing national debate about financial censorship and political bias in the banking sector, with conservative leaders accusing major financial institutions of targeting right-leaning entities. The outcome of Florida’s investigation could set an important precedent for how states regulate banks’ access to private customer information and enforce protections against political discrimination.

Disclaimer

This article is based on official statements and media interviews. The investigation is ongoing, and no findings of wrongdoing have been established at this stage. All parties are presumed innocent until proven otherwise.