Trump Accuses JPMorgan of Debanking
Trump's followers breached the Congress building in Washington, D.C., demonstrating against 2020 presidential election outcomes.
In a Saturday Truth Social statement, Trump alleged the investment bank shuttered or limited his accounts after the incident, severing decades-long financial ties. He characterized the action as politically driven punishment orchestrated under pressure from former President Joe Biden's government.
"I'll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest, a protest that turned out to be correct for those doing the protesting," Trump posted. "The Election was RIGGED!"
JPMorgan has rejected the claims. "While we won't get specific about a client, we don't close accounts because of political beliefs," spokesperson Trish Wexler stated Saturday, continuing: "We appreciate that this Administration has moved to address political debanking and we support those efforts."
Trump also contested an article suggesting he had approached JPMorgan Chase CEO Jamie Dimon for the Federal Reserve chair position, calling it "totally untrue" and insisting there was "never such an offer."
Trump claimed WSJ failed to contact him for verification, noting he would have immediately answered "NO" and "that would have been the end of the story." He denied extending any proposal to Dimon, stating it was not even "thought of," and criticized the publication's inadequate "fact checking," cautioning its already "strained credibility" would continue to "DIVE."
Last August, Trump issued an executive order mandating financial institutions avoid denying services based on customers' religious or political viewpoints—a practice termed "debanking."
He subsequently told media that banks had discriminated against him, asserting JPMorgan Chase and Bank of America rejected his deposits following his initial presidency.
JPMorgan maintains it does not terminate accounts for political motivations, while Bank of America stated it does not discuss client matters and would appreciate clearer regulatory direction.
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