UTHMEIER ALLEGES BANK COORDINATED WITH BIDEN DOJ AND JACK SMITH IN “OPERATION ARCTIC FROST”
TALLAHASSEE, Florida — November 8, 2025. Florida Attorney General James Uthmeier announced Friday that his office has launched a state investigation into JP Morgan Chase, alleging that the bank may have improperly coordinated with the Department of Justice during an inquiry tied to former President Donald Trump’s media company.
In a one-minute video statement filmed in front of U.S. and Florida flags, Uthmeier said the probe will examine whether JP Morgan engaged in “unfair or deceptive practices” when it allegedly closed accounts linked to Trump Media & Technology Group (TMTG) in coordination with Special Counsel Jack Smith’s “Operation Arctic Frost.”
“We’ve launched an investigation into JP Morgan Chase,” Uthmeier said. “While coordinating with the Biden DOJ, the bank ‘de-banked’ Trump Media Group based here in Florida — damaging the company just before it went public.”
According to Uthmeier, the DOJ subpoenaed JP Morgan on March 28, 2023, seeking all records tied to TMTG — including periods before the company existed. Shortly afterward, the bank began questioning prior transactions and allegedly flagged sensitive client data for review, raising concerns that private banking information was shared with federal investigators.
The Attorney General said his office is investigating whether such actions violated Florida’s consumer-protection laws or amounted to political discrimination against state-based businesses. “We have grave concerns about the growing weaponization of financial institutions,” he said.
The probe follows revelations from the U.S. Senate Judiciary Committee, which has been reviewing potential political coordination between banks and federal agencies. Uthmeier said Florida would “not sit idly by” while national institutions “target Floridians for political reasons.”
JP Morgan Chase declined to comment on the investigation, stating only that it “complies with all lawful subpoenas and investigations.” The DOJ and Special Counsel Jack Smith’s office have not issued public responses.
Legal analysts note that while state investigations cannot directly intervene in federal matters, they can scrutinize consumer-data handling and banking practices under Florida law — potentially creating new tensions between state regulators and the Biden administration.
The announcement marks another escalation in the ongoing standoff between Trump-aligned state officials and federal prosecutors, underscoring how political and financial conflicts continue to intertwine heading into 2026.
