JPMorgan Chase CEO Jamie Dimon issued a strong and unexpected criticism of Trump Media CEO Devin Nunes, refuting claims that the bank had ‘debanked’ Donald Trump’s media enterprise.

As one of the most influential figures in the American banking industry, Dimon urged those leveling accusations to “stop making up things,” amid a series of direct and candid comments.

During a segment on Fox News, host Maria Bartiromo questioned Dimon regarding Nunes’s explosive assertion that JPMorgan Chase had shared Trump Media’s financial data with the Biden administration and had closed the company’s accounts due to government pressure.

Nunes, who is a former congressman and now leads Trump Media & Technology Group—the parent company of Truth Social—has previously accused the bank of secretly collaborating with federal investigators examining efforts to challenge the 2020 election results.

In her show on November 9, Bartiromo played Nunes’s accusations directly for Dimon to address, following an earlier interview.

‘What reason do they have to go after us? I have seen Jamie Dimon and others at JPMorgan say this over and over again that they don’t debank people for political reasons. Well, then why the hell did you debank Trump Media?’ an angry Nunes asked in the short clip. 

Dimon blasted the claims as completely false and swiftly brushed aside the suggestion that his bank had targeted Trump’s media company. 

‘People have to grow up here, OK, and stop making up things and stuff like that,’ he said. 

Dimon forcefully rejected the allegations, stressing Chase ‘does not debank people for religious or political affiliations’ during an appearance on Fox News

Devin Nunes insists Trump Media was unfairly swept into a federal probe, arguing JPMorgan’s actions ‘looked political at the time’

When asked directly whether Chase ‘debanked’ Trump Media, Dimon insisted that the bank’s actions were governed strictly by law and not ideology. 

‘I can’t talk about an individual account,’ he said. ‘We do not debank people for religious or political affiliations.’

Dimon went further, stressing that Chase customers across the political and religious spectrum have been removed from the bank’s rolls over time, but never because of their beliefs.

‘We debank people who are Democrats. We debank people who are Republicans. We have debanked different religious folks. Never was that for that reason.’

He said the bank sometimes closes accounts due to fraud, unpaid fees, suspicious activity, or compliance requirements, all typical triggers in the financial industry – but he insisted any political targeting is ‘categorically false.’

‘Debanking’ refers to when a financial institution closes a customer’s account or refuses to provide services, often citing risk, compliance issues, or account activity that violates internal rules or federal regulations. 

It does not inherently mean political retaliation, and banks are generally prohibited from taking adverse action based on a customer’s political ideology. 

Dimon made clear that federal law frequently obligates banks to hand over information during criminal or national security investigations regardless of which party occupies the White House.

Trump Media alleges the bank secretly cooperated with federal subpoenas, fueling its charge that the company was improperly ‘debanked’

He even praised the Trump administration for previously attempting reforms. 

‘I want to change these rules. I actually applaud the Trump administration, who’s trying to say that debanking is bad and we should change the rules. Well, damn it, I have been asking to change the rules now for 15 years. So change the rules.’ 

Nunes has insisted that Trump Media was swept up in a politically tainted federal inquiry that had nothing to do with the company’s operations.

‘We just became a public company in 2024, and we were nowhere around in 2021 on January 6th,’ Nunes told Fox News last month. 

‘So why would Trump Media be subpoenaed at that time during this investigation? It doesn’t make any sense.’

He said the company only learned later that JPMorgan had been responding to federal subpoenas.

‘After discussing this with them for several months, going back and forth, it looked political at the time,’ Nunes said. ‘But now we know that they were under subpoenas that they didn’t tell us about as they were cooperating with the Biden Department of Justice.’

The Florida Attorney General has since opened an inquiry into whether JPMorgan improperly coordinated with the federal government, an allegation the bank vehemently denies.

Dimon emphasized that JPMorgan cannot voluntarily send customer information to the government, and cannot refuse a lawful demand for records.

‘We don’t give information to the government just because they ask. We’re subpoenaed. We are required by court to give it to the government.’

He said such legal obligations have existed across administrations.

‘I have been following subpoenas with this administration, the last administration, the administration before that and the one before that,’ he added. ‘And I don’t agree with a lot of it.’

Dimon suggested that critics should focus on reforming federal reporting requirements rather than accusing banks of acting politically.

‘So, let’s just take a deep breath and fix the problems,’ he said, ‘as opposed to, like, blame someone who’s put in that position.’

He also urged viewers to stop pretending these issues belong to only one political party.

‘Democratic and Republican governments have come after us both. Let’s not act like this is just one side doing this.’