New York, February 22, 2026, 12:49 EST — The market has closed.
- JPM finished Friday up roughly 0.9%, closing at $310.79.
- JPMorgan shut down Donald Trump’s accounts back in February 2021, court filings revealed. Trump is pursuing $5 billion in damages.
- The bank is staffing up for a $1.5 trillion, decade-long security push, with an update on the plan due Feb. 23.
JPMorgan Chase & Co is back in the headlines heading into Monday’s U.S. trading, with newly unsealed court documents revealing the bank shut down President Donald Trump’s accounts in February 2021, not long after the Jan. 6 Capitol riot. In filings, the bank said it sometimes decides “a client’s interests are no longer served” by maintaining a private bank relationship. JPMorgan has requested that Trump’s $5 billion lawsuit be transferred from Miami to New York. Shares finished the last session up roughly 0.9% at $310.79. 1
The current stakes have less to do with the old account letters and everything to do with the intensifying battle over “debanking” — banks cutting off accounts or blocking access to services. That’s what’s driving the political and legal heat swirling in Washington and playing out in courtrooms. JPMorgan, the country’s largest lender, argues the lawsuit should play out in New York, pointing to the location of the accounts. Trump, on the other hand, claims the account closures targeted him for political reasons and disrupted his business operations. 2
JPMorgan is also weaving U.S. economic security themes like supply chains and frontier tech deeper into its dealmaking and financing efforts. Last year, the bank launched its Security and Resiliency Initiative—CEO Jamie Dimon warned then that the U.S. had grown “too reliant on unreliable sources of critical minerals.” The plan? A $1.5 trillion, decade-long push, which earmarks as much as $10 billion for direct equity and venture bets. 3
Names are starting to land on that push. Reuters got hold of a memo showing JPMorgan brought in Kevin Quinn, who previously worked at the U.S. Commerce Department’s CHIPS Program Office, to head up frontier and strategic technologies. Defense and aerospace will fall under Trevor Burns, while Sara O’Rourke is taking charge of a new “SRI Solutions” squad focused on supply chains. 4
The stock wrapped up Friday in positive territory, moving higher alongside major U.S. banks. Bank of America advanced roughly 0.6%, Wells Fargo tacked on about 1.3%. Both the S&P 500 and the Dow ended the session higher as well, according to MarketWatch data. 5
Rates still drive bank stocks, steering both lending margins and the outlook for credit losses. On Friday, Dallas Fed President Lorie Logan called herself “cautiously optimistic” that inflation would keep easing. But she stopped short of saying the U.S. is on track for the Fed’s 2% goal, citing uncertainty after the Supreme Court tossed out much of Trump’s import tariffs. 6
Investors are eyeing upcoming inflation data, key for shaping rate cut bets. The Commerce Department’s personal consumption expenditures (PCE) price index—the inflation measure the Fed watches most—came out Feb. 20. The next PCE update is set for March 13, the BEA says. 7
Still, JPMorgan faces a headache: the Trump case stretches into a protracted political battle over banks and their clients, ensnaring regulators, lawmakers, and customers—dynamics tough to quantify. Shifts in rates, weaker loan demand, or rising credit costs could easily overshadow any narrative focused just on the company.
JPMorgan will deliver a company update in New York City this Monday, Feb. 23, starting at 4:30 p.m. Eastern, according to the bank. The schedule includes a firm overview presentation, plus Q&A with executive management. Slides should post at 4:00 p.m., and the entire event will be available via webcast. 8
