Largest US banks refused to serve Trump: what was the reason

The largest US banks - JPMorgan and Bank of America - have refused to serve President Donald Trump due to his key role in the events of January 6, 2021. At that time, during the storming of the Capitol, 4 people died and 15 more were injured, reports UNN with reference to The New York Post.

Details

According to the publication, Trump was first stripped of assets worth tens of millions of dollars on JPMorgan's banking platform, and then denied access to Bank of America's services.

The exact reason for denying Trump access to the services of the aforementioned financial institutions is currently unknown. At the same time, sources at JPMorgan and Bank of America report that this happened due to the risk of violating rules prohibiting financial institutions from doing business with individuals and companies that pose a "reputational risk."

In addition, as stated in the publication, US law enforcement agencies, which at that time were subordinate to Joe Biden, used the vague nature of the relevant decree to go beyond the debanking of money launderers and drug mafia kingpins.

When Trump became president again, he promised to end debanking; financial regulators stopped applying the reputational risk provisions, and the US president himself plans to issue a relevant decree on this issue, reports The New York Post.

Recall

The US federal agency has launched an official investigation into former special prosecutor Jack Smith, who handled cases against Donald Trump. One case concerns the illegal storage of classified materials, and the other – Trump's attempts to overturn his defeat in the 2020 election, which led to the storming of the Capitol on January 6, 2021.