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U.S. Bank flags potential blowback from debanking inquiries
['Dan Ennis', 'Mon', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
U.S. Bank on Thursday joined the ranks of financial institutions warning its investors of potential consequences from federal agencies' probes into lenders' debanking activity and policies.
Trump, as far back as January 2025, accused banks such as JPMorgan Chase and Bank of America of debanking conservatives on a purely political basis.
"Certain of these matters are at various stages, including reviews, investigations and legal proceedings," the bank said at the time.
Trump sued JPMorgan and its CEO, Jamie Dimon, in January, accusing the bank of "incorrectly" debanking him in connection with the Jan. 6, 2021, U.S. Capitol riot.
The bank last month disclosed the Trump accounts were shuttered after "months of analysis and a careful review" by an internal anti-money laundering team.