Lummis Demands Investigation into Banks Debanking Trump, Crypto Firms

Senator Cynthia Lummis is calling for a criminal investigation into major US banks that she claims systematically debanked President Donald Trump, his family members, and digital asset companies for purely political reasons.

Lummis frames these individual incidents as part of a broader pattern she and other Republicans have labeled 'Operation Choke Point 2.0.'

The original Operation Choke Point was an Obama-era initiative that pressured banks to cut ties with legal but politically disfavored industries like payday lenders and firearms dealers.

JPMorgan Chase closed accounts belonging to Jack Mallers, the CEO of Strike, a Bitcoin payments company, in November 2025. Lummis responded by declaring that 'Operation Choke Point 2.0 regrettably lives on.'