President Donald Trump has threatened to sue JPMorgan Chase, alleging the bank 'debanked' him following the January 6, 2021, riot at the U.S. Capitol. In a social media post, Trump claimed that JPMorgan Chase incorrectly and inappropriately terminated his banking services after the protest, which he believes was justified. This comes as Trump signed an executive order in August, mandating banks to ensure they don't deny financial services based on religious or political beliefs, a practice known as 'debanking.' Trump has previously accused JPMorgan Chase and Bank of America of discriminating against him, without providing evidence. He claims they refused to accept his deposits during his first term in office. However, JPMorgan Chase stated they don't close accounts for political reasons, while Bank of America declined to comment on client matters. The Trumps have a history of criticizing financial institutions for alleged political bias. Donald Trump Jr. mentioned his family's struggle accessing big bank services, leading them to enter the cryptocurrency industry. Trump's legal threat against JPMorgan Chase coincides with a denial of a Wall Street Journal report that he offered the position of Federal Reserve chairman to JPMorgan CEO Jamie Dimon, which Dimon took as a joke. Trump refuted the report, expressing his skepticism about Dimon and JPMorgan.
