Justice Department subpoenas major banks over politically motivated account closures

The Justice Department has subpoenaed major banks as part of an investigation into customer account closures tied to possible political motives, while Sen. Cynthia Lummis has called for a probe into allegations that big banks debanked President Trump and others during the Biden era. The parallel scrutiny revives debate over what critics call Operation Chokepoint 2.0 and could increase pressure on banks to justify how they terminate relationships with politically sensitive clients, including crypto firms and political organizations.

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