By Katanga Johnson | Updated on Jun 10, 2026 at 08:04 PM
Federal prosecutors are looking into whether some of Wall Street’s biggest lenders illegally dropped customers for political reasons, according to a person familiar with the probe.
The investigation into “debanking” allegations is being handled by Jeanine Pirro, the US Attorney in Washington, said the person, who asked not to be identified because the probe is confidential. The Wall Street Journal reported earlier Wednesday that Pirro had sent subpoenas to lenders including JPMorgan Chase & Co. and Bank of America Corp.
JPMorgan and Bank of America declined to comment on a possible federal investigation. Representatives for Pirro couldn’t be reached to comment.
President Donald Trump has long railed against banks that he says have wrongfully denied services to conservatives. He has sued JPMorgan and Capital One Financial Corp., which both closed accounts held by Trump or his businesses shortly after the Jan. 6, 2021, Capitol riot.
The Office of the Comptroller of the Currency said late last year that nine large US lenders made “inappropriate distinctions” among certain customers, a finding that falls in line with Trump’s calls to rein in debanking.
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The Department of Justice probe did not stem from a referral from the OCC, according to the person.