Jamie Dimon, Chairman and CEO, JPMorganChase, speaks through the Reagan Nationwide Protection Discussion board on the Ronald Reagan Presidential Library in Simi Valley, California, U.S. December 6, 2025.
Jonathan Alcorn | Reuters
President Donald Trump on Saturday threatened to sue JPMorgan Chase over allegedly “debanking” him following the Jan. 6, 2021, riot on the U.S. Capitol.
“I will be suing JPMorgan Chase over the subsequent two weeks for incorrectly and inappropriately DEBANKING me after the January sixth Protest, a protest that turned out to be appropriate for these doing the protesting,” Trump stated in a social media publish. “The Election was RIGGED!”
JPMorgan and the White Home did not instantly reply to CNBC’s request for remark.
In August, Trump signed an government order requiring banks to make sure they don’t seem to be refusing monetary companies to shoppers primarily based on non secular or political opinions, a apply referred to as “debanking.”
Trump claimed in a CNBC interview in August, with out offering proof, that he was personally discriminated in opposition to by banks. He stated JPMorgan Chase and Financial institution of America refused to take his deposits following his first time period in workplace.
On the time, JPMorgan stated it doesn’t shut accounts for political causes, whereas Financial institution of America stated it does not touch upon shopper issues. BofA additionally stated it might welcome clearer guidelines from regulators on conduct its actions.
Trump and his household have a historical past of railing in opposition to monetary establishments for allegedly refusing to work with them on the premise of their political orientation.
Final 12 months, Donald Trump Jr. stated his household had issue accessing massive financial institution companies — a scenario that allegedly prompted the Trumps to enter the cryptocurrency business.
“So, [my family] obtained into crypto, not as a result of it was like, ‘hey, that is the subsequent cool factor,’ we obtained into it out of necessity,” Trump Jr. advised CNBC in an interview final June.
JPMorgan shares are down about 5% over the previous week, even after the financial institution on Tuesday topped expectations for its fourth-quarter earnings and income.
Trump’s authorized menace in opposition to JPMorgan comes because the president, in the identical Reality Social publish, denied a Journal report on Wednesday that stated the president had supplied JPMorgan CEO Jamie Dimon the place of Federal Reserve chairman months in the past throughout a gathering on the White Home.
Dimon took the proposition as a joke, based on the Journal report.
In his publish, Trump denied the report, underscoring his reservations about Dimon and JPMorgan.
“This assertion is completely unfaithful, there was by no means such a suggestion,” he wrote. “Why would not The Wall Avenue Journal name me to ask whether or not or not such a suggestion was made? I’d have in a short time advised them, “NO,” and that might have been the top of the story.”
The Journal and JPMorgan didn’t instantly reply to a request for remark despatched exterior of regular enterprise hours.
Present Fed Chairman Jerome Powell’s time period ends on Could 15.