Trump to Sue JPMorgan Chase Over Debanking Allegations Following January 6 Riot
J.P. Morgan asset management chief global strategist David Kelly analyzes the Fed’s rate cut and inflation outlook for 2026 on Barron’s Roundtable.
On Saturday, President Donald Trump announced his intention to sue JPMorgan Chase, alleging that the banking giant wrongfully terminated his accounts following the events of January 6, 2021, at the Capitol.
In a detailed post on Truth Social, Trump refuted claims that he had offered JPMorgan CEO Jamie Dimon the position of Federal Reserve chair. He also dismissed suggestions that Dimon was being considered for the role of Treasury secretary, asserting that he already has Scott Bessent fulfilling that position.
TRUMP SAYS LAWSUIT AGAINST BBC WILL BE FILED IMMINENTLY
President Donald Trump says he plans to sue JPMorgan Chase, accusing the bank of improperly cutting off his accounts after Jan. 6. File photo. (Tim Clayton/Corbis via Getty Images / Getty Images)
In his post, Trump stated, “The problem is, I have Scott Bessent doing a fantastic job, A SUPERSTAR — Why would I give it to Jamie? No such offer was made there, or even thought of, either.”
He also defended the actions of those who protested on January 6, asserting, “a protest that turned out to be correct for those doing the protesting — The Election was RIGGED!”
Fox Business has reached out to JPMorgan Chase for a response.
The violent protests in Washington, D.C., coincided with Congress’s certification of the Electoral College votes for President Joe Biden. Some Trump supporters urged then-Vice President Mike Pence to return the 2020 election results to state legislatures for further review. Critics accused Trump of inciting the violence, which led to his impeachment by the House, although he was later acquitted by the Senate.
Trump also denied a Wall Street Journal report claiming he offered JPMorgan CEO Jamie Dimon the Fed chair position. (MICHEL EULER/POOL/AFP via Getty Images / Getty Images)
Following the Capitol riot, Trump faced bans from several social media platforms. He has publicly claimed that JPMorgan Chase provided him with a deadline—reportedly 20 days—to move hundreds of millions of dollars, effectively severing his accounts after January 6.
Additionally, he mentioned that Bank of America refused to accept large deposits when he sought to bank elsewhere. In response to these allegations, JPMorgan Chase CEO Jamie Dimon stated last year that the bank does not debank customers based on political views.
President Donald Trump accused the banking giant of improperly cutting off his accounts in the aftermath of the Jan. 6, 2021, Capitol protest. (Andrew Harnik/Getty Images / Getty Images)
Dimon has reiterated that JPMorgan Chase does not debank individuals based on their political or religious affiliations. He emphasized that there are numerous issues that need addressing within the banking system, which can lead to customers being debanked.
When asked if banking regulators were primarily responsible for these debanking concerns, Dimon replied, “Pretty much, yeah.”
Bank of America CEO Brian Moynihan, who has also faced scrutiny over similar allegations, echoed Dimon’s sentiments in a separate interview, stating, “We have 70 million customers, and we’re happy to serve anyone.”
When pressed on Trump’s allegations, Moynihan declined to comment further, stating, “You’d have to talk to him about that, thanks.”
J.P. Morgan asset management chief global strategist David Kelly analyzes the Fed’s rate cut and inflation outlook for 2026 on Barron’s Roundtable.
On Saturday, President Donald Trump announced his intention to sue JPMorgan Chase, alleging that the banking giant wrongfully terminated his accounts following the events of January 6, 2021, at the Capitol.
In a detailed post on Truth Social, Trump refuted claims that he had offered JPMorgan CEO Jamie Dimon the position of Federal Reserve chair. He also dismissed suggestions that Dimon was being considered for the role of Treasury secretary, asserting that he already has Scott Bessent fulfilling that position.
TRUMP SAYS LAWSUIT AGAINST BBC WILL BE FILED IMMINENTLY
President Donald Trump says he plans to sue JPMorgan Chase, accusing the bank of improperly cutting off his accounts after Jan. 6. File photo. (Tim Clayton/Corbis via Getty Images / Getty Images)
In his post, Trump stated, “The problem is, I have Scott Bessent doing a fantastic job, A SUPERSTAR — Why would I give it to Jamie? No such offer was made there, or even thought of, either.”
He also defended the actions of those who protested on January 6, asserting, “a protest that turned out to be correct for those doing the protesting — The Election was RIGGED!”
Fox Business has reached out to JPMorgan Chase for a response.
The violent protests in Washington, D.C., coincided with Congress’s certification of the Electoral College votes for President Joe Biden. Some Trump supporters urged then-Vice President Mike Pence to return the 2020 election results to state legislatures for further review. Critics accused Trump of inciting the violence, which led to his impeachment by the House, although he was later acquitted by the Senate.
Trump also denied a Wall Street Journal report claiming he offered JPMorgan CEO Jamie Dimon the Fed chair position. (MICHEL EULER/POOL/AFP via Getty Images / Getty Images)
Following the Capitol riot, Trump faced bans from several social media platforms. He has publicly claimed that JPMorgan Chase provided him with a deadline—reportedly 20 days—to move hundreds of millions of dollars, effectively severing his accounts after January 6.
Additionally, he mentioned that Bank of America refused to accept large deposits when he sought to bank elsewhere. In response to these allegations, JPMorgan Chase CEO Jamie Dimon stated last year that the bank does not debank customers based on political views.
President Donald Trump accused the banking giant of improperly cutting off his accounts in the aftermath of the Jan. 6, 2021, Capitol protest. (Andrew Harnik/Getty Images / Getty Images)
Dimon has reiterated that JPMorgan Chase does not debank individuals based on their political or religious affiliations. He emphasized that there are numerous issues that need addressing within the banking system, which can lead to customers being debanked.
When asked if banking regulators were primarily responsible for these debanking concerns, Dimon replied, “Pretty much, yeah.”
Bank of America CEO Brian Moynihan, who has also faced scrutiny over similar allegations, echoed Dimon’s sentiments in a separate interview, stating, “We have 70 million customers, and we’re happy to serve anyone.”
When pressed on Trump’s allegations, Moynihan declined to comment further, stating, “You’d have to talk to him about that, thanks.”
