Trump says he may sue JPMorgan as debanking row escalates
Trump threatens to sue JPMorgan Chase over alleged political debanking after January 6, denies offering Jamie Dimon the Fed chair role, and reignites debate on banking neutrality.
Trump floats lawsuit against JPMorgan amid growing debanking controversy
Donald Trump has threatened legal action against JPMorgan Chase, alleging the bank unfairly closed his accounts after the January 6 Capitol riot. He also denied reports claiming he offered JPMorgan CEO Jamie Dimon the Federal Reserve chair role.
Former US President Donald Trump has threatened to sue JPMorgan Chase & Co., accusing the banking giant of wrongly “debanking” him following the January 6, 2021, Capitol riot. Trump’s remarks came in response to a Wall Street Journal report claiming he had jokingly offered JPMorgan CEO Jamie Dimon the role of Federal Reserve chair — a claim Trump flatly denied.
In a social media post on Saturday, Trump said there was “never such an offer” and announced plans to sue JPMorgan within two weeks, alleging the bank improperly closed accounts he had held for decades. He claimed the move was politically motivated and linked to the events surrounding the Capitol unrest.
JPMorgan has previously stated that it does not close customer accounts based on political or religious beliefs. A spokesperson said the bank supports recent efforts to address concerns around political debanking and emphasized its commitment to fair banking practices.
Dimon, speaking earlier this week, dismissed speculation about becoming Fed chair, saying there was “absolutely, positively no chance” he would take the role. While he acknowledged he would consider a call regarding the Treasury Department, Dimon clarified there were no job offers and expressed strong support for current Treasury Secretary Scott Bessent.
The controversy unfolds amid Trump’s ongoing criticism of the Federal Reserve and renewed debates over the independence of the US central bank.
