JPMorgan Chase Chairman and Chief Executive Officer Jamie Dimon speaks at the Reagan National Defense Forum held at the Ronald Reagan Presidential Library in Simi Valley, California, USA on December 6, 2025.
Jonathan Alcorn | Reuters
President Donald Trump threatened to sue Saturday. JP Morgan Chase It is alleged that he was “separated from the bank” after the Jan. 6, 2021, riot at the U.S. Capitol.
“In the next two weeks, we will sue JPMorgan Chase & Co. for unfairly and improperly canceling bank transactions after the January 6 protests. These protests have proven to be right for the people protesting,” Trump said in a social media post. “The election was fraudulent!”
JPMorgan and the White House did not immediately respond to CNBC’s requests for comment.
In August, President Trump signed an executive order requiring banks not to deny financial services to customers based on religious or political beliefs. This is an act known as “debunking.”
In an interview with CNBC in August, Trump claimed, without providing evidence, that he had personally been discriminated against by banks. He said JPMorgan Chase & Co. and Bank of America refused to accept his deposits after his first term in office.
At the time, JPMorgan said it does not close accounts for political reasons, while Bank of America said it does not comment on customer issues. BofA also said it would welcome clearer rules from regulators on how to conduct its activities.
Mr. Trump and his family have a history of slamming financial institutions for refusing to work with them because of their political leanings.
Donald Trump Jr. said last year that his family had difficulty accessing services from major banks, a situation that is said to have inspired the Trumps to enter the cryptocurrency industry.
“That’s why[my family]got interested in cryptocurrencies. We got into it out of necessity, not because we were like, ‘Hey, this is the next cool thing,'” Trump Jr. told CNBC in an interview last June.
JPMorgan stock has fallen about 5% over the past week, even though the bank beat expectations for fourth-quarter profit and revenue on Tuesday. Stocks and other stocks in the banking sector fell after President Trump’s demand for a 10% cap on credit card interest rates, giving financial companies until Jan. 20 to comply.
President Trump’s legal threat against JPMorgan comes after Trump, in the same Truth Social post, denied Wednesday’s Journal report that the president offered JPMorgan CEO Jamie Dimon the post of Federal Reserve Chairman during a White House meeting months ago.
The Journal reported that Dimon took the suggestion as a joke.
President Trump denied the report in a post and emphasized his reservations about Dimon and JPMorgan.
“This statement is completely false and such an offer never existed,” he wrote. “Why didn’t the Wall Street Journal call me to ask if I had received such an offer? I would have immediately said ‘no’ and that would have been the end of the story.”
The newspaper and JPMorgan did not immediately respond to requests for comment outside of normal business hours.
Current Federal Reserve Chairman Jerome Powell’s term ends on May 15th.
