Federal Prosecutors Open Criminal Investigation Into Political Debanking

The U.S. Attorney's Office in Washington issued grand jury subpoenas to JPMorgan Chase and Bank of America on June 10 as part of a criminal investigation into whether the banks closed accounts based on political ideology rather than risk. The probe, led by U.S. Attorney Jeanine Pirro, marks a shift from congressional inquiries to formal federal prosecution. Whether account terminations violated civil rights or banking law remains unknown.