TALLAHASSEE, Fla. (Diya TV) — Florida Attorney General James Uthmeier announced Monday that his office has launched an investigation into JPMorgan Chase Bank, alleging that the nation’s largest bank coordinated with federal officials in a politically motivated effort against Trump Media & Technology Group.
Uthmeier said the investigation follows “alarming revelations” about JPMorgan’s alleged role in Operation Arctic Frost, a Justice Department initiative he linked to special counsel Jack Smith and the Biden administration. He claimed the operation targeted political opponents, including the company behind Truth Social, the social media platform founded by Donald Trump.
“Today we’ve sent a letter and launched an investigation into JPMorgan Chase Bank after alarming revelations about its coordinated efforts with Jack Smith and the Department of Justice,” Uthmeier said in a video statement. “We now know Biden officials went after their political enemies.”
According to Uthmeier, the state’s investigation focuses on claims that JPMorgan de-banked Trump Media Group, a Florida-based company, shortly before it went public. He said the decision could have hurt the company’s financial standing at a critical moment.
“It’s come to our attention that JPMorgan ‘de-banked’ Trump Media Group, a Florida-based company, right before the business went public,” Uthmeier said. “This is a crucial time for any company, a time when you cannot afford to lose your bank.”
The attorney general alleged that JPMorgan demanded “tons of information” from the company that had nothing to do with normal banking procedures. He also claimed the bank shared sensitive financial data with the U.S. Department of Justice “without real probable cause.”
“This is wrong, we will not tolerate it, and we will hold them accountable,” Uthmeier said. “Here in Florida, we’ve passed legislation to protect our consumers from wrongful ‘de-banking,’ and we will stand by our consumers.”
Florida lawmakers have passed measures aimed at stopping what they describe as politically motivated financial discrimination. The laws prohibit banks from denying services to individuals or companies based on political beliefs, religious affiliations, or social views.
Uthmeier said his office will use these laws to determine whether JPMorgan violated any state consumer protection statutes. He promised a full review of potential coordination between the bank and federal agencies.
“Florida will pursue every piece of evidence and follow the facts,” he said. “We will not allow corporate or federal actors to misuse their power for political purposes.”
As of Monday evening, JPMorgan Chase had not issued a public comment on the allegations. The bank, headquartered in New York, is one of the largest financial institutions in the world, serving millions of customers across the United States.
The company has faced growing scrutiny from conservative leaders who accuse large banks of discriminating against right-leaning organizations and political figures. JPMorgan has repeatedly denied those claims in the past, saying it does not close accounts for political reasons.
Uthmeier connected JPMorgan’s alleged actions to Operation Arctic Frost, which he described as a Justice Department initiative tied to special counsel Jack Smith’s investigations. Smith currently oversees multiple federal cases involving former President Trump.
The Florida attorney general suggested that JPMorgan’s cooperation with federal officials might have extended beyond standard legal requests. He said his office would investigate whether the bank provided information or took action under pressure from the federal government.
“If a major U.S. bank coordinated with Washington to target a Florida company for political reasons, that’s something every American should care about,” Uthmeier said. “This is not about politics — it’s about fairness, transparency, and the rule of law.”
The investigation could heighten tensions between Florida officials and the Biden administration, particularly as financial and technology sectors become increasingly entangled in political disputes.
The case also draws renewed attention to Trump Media & Technology Group, which went public earlier this year and operates Truth Social, the social media platform promoted by the former president. Florida officials say they intend to hold both corporations and government agencies accountable if evidence supports the claims.
“Florida will always defend its businesses and consumers from unfair treatment,” Uthmeier said. “No company should lose access to financial services because of its political associations.”
Uthmeier did not specify which state laws may have been broken or what penalties could follow. He said the attorney general’s office has requested documents from JPMorgan and will continue to collect testimony and evidence. The investigation remains ongoing.
