A couple of months ago, I appeared on national television talking about what it meant for the future of JPMorgan Chase when Florida Attorney General James Uthmeier opened a probe into the bank’s role in de-banking conservative enterprises and political figures. At the time, many treated it as a warning shot, an early sign that the unchecked political power of Wall Street might finally face scrutiny.

Now we know that warning has become a full-blown reckoning. President Donald Trump has filed a lawsuit against JPMorgan Chase and its CEO, Jamie Dimon, seeking at least $5 billion in damages.

The lawsuit, filed January 22, 2026, in Miami-Dade County state court, accuses the banking giant of cutting off Trump’s long-standing accounts for explicitly political reasons, reflecting ideological and religious discrimination and blatant de-banking of a sitting president and his affiliated companies.

This isn’t about one man anymore. It’s about an entire system that has operated outside the reach of accountability for too long.

For years, conservative voices were told that claims of de-banking were nothing more than conspiracy theories, that no bank would ever punish customers for their political beliefs. That turned out to be a lie.

Under both the Obama and Biden administrations, the federal government helped normalize political pressure on financial institutions. Programs like Operation Choke Point created a roadmap for pressuring banks to cut off lawful........

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