Overview
- Attorney General James Uthmeier notified JPMorgan on Monday that his office has opened an investigation and issued a preservation letter to CEO Jamie Dimon.
- Uthmeier’s letter cites a March 28, 2023 Justice Department subpoena seeking any and all Trump Media records, including periods before the company existed.
- The letter alleges JPMorgan questioned Trump Media about earlier transactions and then closed its accounts shortly after a March 2024 merger, actions the state will scrutinize under Florida criminal, civil anti‑fraud, and de‑banking statutes.
- JPMorgan says it follows the law when responding to government subpoenas, rejects political discrimination, and supports regulatory fixes addressing account closures driven by overly cautious policies.
- The probe follows Senate Judiciary disclosures about the breadth of Special Counsel Jack Smith’s Arctic Frost subpoenas, while Republican senators seek unsealing of related materials and Trump Media’s Devin Nunes criticizes the bank’s timing and rationale.