The Biden administration found a way to punish Trump supporters without leaving fingerprints.
A devastating new investigation just exposed how they used America’s biggest banks as weapons.
And one shocking report revealed what major banks did to Trump supporters that left corporate America in damage control mode.
Major banks "debanked" Trump under Biden administration pressure
Fox Business correspondent Charles Gasparino conducted an investigation that exposed how the Biden administration orchestrated a systematic campaign against Trump and his associates.
The nation’s two largest financial institutions – JPMorgan Chase and Bank of America – terminated their banking relationships with Donald Trump and his business empire after the January 6 events.
This wasn’t driven by standard business risk calculations.
Bank insiders revealed to Gasparino that these financial institutions received pressure from Biden administration officials to avoid any business dealings with Trump’s organizations.
"You can be like me and not condone the January 6 upheaval and still shudder at the thought that Trump’s actions that day means he can’t have a private business life, which is what the Biden administrative state working with the nation’s two largest banks appeared to have tried to do, people at the banks confirm," Gasparino wrote.¹
The financial blacklisting was just the beginning of a much darker story.
The coordinated campaign extended far beyond banking
Gasparino’s reporting uncovered evidence that this discrimination against Trump personnel spread throughout America’s largest corporations.
Trump administration veterans described facing systematic exclusion from job opportunities at major companies, despite their qualifications.
Universities kicked them out of their classrooms.
Speaking opportunities disappeared entirely.
Publishing contracts evaporated.
"The entire weight of government came out against Trump and people who worked for him including yours truly," one former top Trump economic aide told Gasparino. "It went beyond banking. People couldn’t get hired. People couldn’t get speaking gigs. It was really, really bad all fueled by the Biden administration."²
The Biden administration found a way to weaponize corporate America’s regulatory fears against Trump supporters without leaving official fingerprints on the operation.
Corporate America played along with the political persecution
The method was diabolically simple yet effective.
Major corporations and financial institutions operate in a heavily regulated environment where government scrutiny can destroy businesses.
The Biden administration didn’t need to issue formal orders – the threat of regulatory retaliation was enough to make corporate executives fall in line.
Hiring a former Trump official or maintaining business relationships with Trump could invite unwanted government attention, audits, or worse.
So most companies took the path of least resistance and blacklisted anyone associated with the previous administration.
The few Trump alumni who did find work landed in "safe spaces" like Fox News or right-of-center think tanks – places where their Trump association was actually an asset rather than a liability.
Meanwhile, Obama administration veterans immediately snapped up corporate board positions and landed plum assignments in public policy the minute Barack Obama left office.
The contrast couldn’t have been more stark or more deliberately orchestrated.
Trump’s victory completely reversed the power dynamic
However, Trump’s 2024 electoral victory transformed the situation immediately.
Corporate America’s calculated political exclusion suddenly became a significant business risk.
The financial institutions that previously refused Trump’s accounts are now, according to Gasparino’s reporting, willing to accept his business again.³
Major corporations are actively recruiting consultants and communications specialists to help them manage relationships with the Trump administration.
The business of helping corporate America deal with Trump supporters who now "control the vast administrative state" has become "increasingly lucrative," Gasparino reported.⁴
"Finally it’s getting profitable to be MAGA," he concluded.
Gary Goldstein, CEO of Whitney Partners executive search firm, said part of the problem with being associated with Trump wasn’t just his actions during January 6, but also stems from the fact that businesses hate controversy.
"Anyone who is in business and gets involved in politics is putting themselves in harm’s way," Goldstein told Fox Business’s Teuta Dedvukaj. "It’s better to be agnostic. Once you cross that line, especially with someone like Trump, you can’t un-ring that bell."⁵
But Trump’s return to power has done plenty for "un-ringing" that bell, as Gasparino noted.
The expose reveals corporate America’s true character
Gasparino’s reporting reveals the opportunistic nature of corporate America’s supposed principles.
Here’s what really happened – these companies weren’t taking some moral stand.
They saw which way the wind was blowing in Washington, D.C. and decided to get on the winning side.
The Biden team made it clear that working with Trump people would bring problems. So corporate America said "yes sir" and started slamming doors.
Fast forward to today, and suddenly these same executives are falling over themselves to hire Trump consultants and rebuild those relationships.
What changed? Not their principles – they never had any to begin with.
The only thing that changed was who’s sitting in the White House and who controls the regulatory agencies that can make their lives miserable.
Watching qualified Americans get blacklisted because of who they worked for should make every patriot’s blood boil.
Yet none of these companies will face consequences for their role in this coordinated campaign of discrimination.
Instead, they’re now spending millions trying to get back in Trump’s good graces – proving they understood exactly what they were doing all along.
The only thing that changed was who holds the power to make their business lives difficult.
Corporate America’s true allegiance isn’t to free markets or meritocracy – it’s to whoever controls the regulatory apparatus that can destroy their bottom line.
¹ Charles Gasparino, "Trump backers finally reap rewards after years of debanking, black-listing," New York Post, August 8, 2025.
² Ibid.
³ Ibid.
⁴ Ibid.
⁵ Ibid.
