Concerns about debanking are only part of the problem, as Florida Attorney General James Uthmeier (R) leveled “damning” allegations against a bank for its supposed role in Operation Arctic Frost.
As revelations about the lengths that then-President Joe Biden’s Department of Justice took in the pursuit of then-former President Donald Trump, it appears that U.S. District Judge James Boasberg and members of the now-defunct Jan. 6 committee weren’t alone in allegedly aiding then-Special Counsel Jack Smith.
Monday, Uthmeier took to social media with a statement claiming the timing of JPMorgan Chase’s decision to debank Trump Media & Technology Group Corp. potentially implicated it in “numerous Florida criminal and civil anti-fraud laws and de-banking prohibitions,” in addition to breaching its duties, all while working with Smith to provide sensitive information to the Justice Department “without real probable cause.”
“We launched an investigation into JPMorgan Chase. While coordinating with Jack Smith in the Biden DOJ’s Operation Arctic Frost, JPMorgan de-banked the Florida-based Trump Media Group, harming the company just before it went public,” the attorney general captioned a video posted to X before later sharing a letter to JPMorgan Chase CEO Jamie Dimon requesting the bank preserve all relevant documents and records.
Here is our preservation notice to JP Morgan Chase: https://t.co/SrQ0n8gOEF pic.twitter.com/1nfFuXE5Ow
— Attorney General James Uthmeier (@AGJamesUthmeier) November 10, 2025
“I write to express grave concerns about the explosive revelations regarding the Biden Administration’s pursuit of its political adversaries, and JPMC’s ensuing actions in the shadow of this operation, codenamed ‘Arctic Frost,'” read the letter in part. “In addition to spying on Republican Senators, the Biden Administration subpoenaed sensitive banking information from several Florida individuals, organizations, and business entities, including Trump Media & Technology Group Corp. (TMTG), a Florida corporation.”
On top of debanking TMTG, Uthmeier alleged that JPMorgan “solicited tons of information from Trump Media unrelated to their business practices and, we believe, provided sensitive banking information to the Department of Justice without real probable cause.”
“This is wrong. We will not tolerate it, and we will hold them accountable,” he added.
Speaking with Fox News Digital, a source familiar with the investigation expressed, “The attorney general’s office is going to prosecute any wrongdoing to the fullest,” and suggested the evidence is “damning.”
The allegations came several months after bank executives claimed they’d faced pressure from both the Biden administration and Obama administration to “deny services to individuals and businesses for political reasons,” according to a report from Fox Business.
“Those pressures were very, very real,” one executive said. “When your regulator gives you a suggestion, it’s not a suggestion, it’s an order. The political stuff is very real; those pressures are real.”
Another explained that “banks were pressured to deny services to certain industries as part of Operation Choke Point and Operation Choke Point 2.0.”
More recently, JPMorgan Chase joined Bank of America, Citigroup, PNC Bank, and Regions Bank in affirming policies to protect customers against politicized debanking.
Native of Brooklyn, NY, Kevin Haggerty is a graduate of Hunter College where he studied Cultural Anthropology and Geography. An avid reader and truth seeker, he currently resides in Texas with his wife and their dog and, when he isn't researching current events and their impacts, you'll find him spending time with friends and family or working on his next novel.
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