President Donald Trump said Saturday he plans to sue JPMorgan Chase, accusing the banking giant of improperly cutting off his accounts in the aftermath of the Jan. 6, 2021, Capitol protest.
Trump made the allegation in a lengthy post on Truth Social, where he also denied a report that claimed he had offered JPMorgan CEO Jamie Dimon the job of Federal Reserve chair.
Trump also pushed back on suggestions that he had considered Dimon for Treasury secretary, saying he already has Scott Bessent in the role.
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“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,” Trump wrote.
Trump went on to defend those who protested on Jan. 6, writing, “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 comment.
Violent protests broke out in Washington, D.C., as Congress certified the Electoral College votes for President Joe Biden. Some Trump supporters had called on then-Vice President Mike Pence to return the 2020 election results to state legislatures for further review. Trump critics accused the then president of inciting the violence, leading to his impeachment by the House. He was later acquitted by the Senate.
Trump was also banned from several social media platforms in the wake of the riot.
Trump has publicly said in interviews that JPMorgan Chase gave him a deadline, reportedly 20 days, to move hundreds of millions of dollars and effectively severed his accounts after Jan. 6.
He also said Bank of America later refused to accept large deposits when he attempted to bank elsewhere.
JPMorgan Chase CEO Jamie Dimon last year denied that the bank debanks conservatives or customers based on political views.
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“We don’t debank people because of political or religious affiliations,” Dimon told FOX Business on Capitol Hill on Feb. 13, 2025. “But there are a lot of things that can be fixed. We should fix them. The rules and requirements are so onerous, and it does cause people to be debanked in my opinion, should not be debated.”
When asked whether banking regulators were primarily to blame for debanking concerns, Dimon replied, “Pretty much, yeah.”
Bank of America CEO Brian Moynihan, who has also faced scrutiny from the White House over debanking allegations, offered a similar response in a separate FOX Business interview that day.
“We have 70 million customers, and we’re happy to serve anyone,” Moynihan said.
When pressed on President Trump’s allegations, Moynihan declined to elaborate, telling Fox Business, “You’d have to talk to him about that thanks.”
