The US Justice Department has issued subpoenas to major banks including JPMorgan Chase and Bank of America over whether they have participated in “debanking,” The Wall Street Journal has reported.

Citing a person familiar with the matter, the outlet said the subpoenas relate to questions over the improper closure of bank accounts for political reasons. The US Attorney’s Office, headed by Jeanine Pirro, asked banks to supply lists of individuals who were allegedly debanked, as well as details on why their accounts were closed, the report said.

Wells Fargo is also being investigated, the report added, citing people familiar with the matter.

This is not the first time the Trump administration has put pressure on banks over this issue.

In August of last year, the president issued an executive order declaring that “financial institutions have engaged in unacceptable practices to restrict law-abiding individuals’ and businesses’ access to financial services on the basis of political or religious beliefs or lawful business activities”.

The order claimed that some financial institutions flag individuals for reasons including making peer-to-peer transactions including terms such as Trump or MAGA, or for shopping at outdoor recreation store Bass Pro Shop. The order instructed financial institutions to ensure they were not engaging in the practice of debanking.

A December report by the Office of the Comptroller of the Currency, the US regulator overseeing large national banks, found that the nine largest financial institutions in the country had in the past placed restrictions on their service provision to some controversial industries.

Earlier this year, JPMorgan admitted to the closure of more than 50 bank accounts linked to Donald Trump and his businesses following the 6 January 2021 attack on the US Capitol. JPMorgan chief executive Jamie Dimon has dismissed the related $5 billion lawsuit, which is ongoing, as meritless.

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