Trump Threatens to Sue JPMorgan Over “Debanking” Claims
Trump Announces Plan to Sue JPMorgan
Former President Donald Trump has announced that he will be suing JPMorgan Chase within the next two weeks. He claims the bank “DEBANKED” him, allegedly closing or limiting his accounts after the January 6, 2021, Capitol riot. Trump argues this action was politically motivated, part of a broader effort to target conservatives.
The Allegations
Trump says JPMorgan cut off longstanding banking relationships following the Capitol attack, preventing him from accessing funds and services tied to the Trump Organization. He frames the move as retaliation influenced by the Biden administration.
Earlier, Trump also criticized Bank of America for similar reasons, claiming multiple banks have discriminated against him in recent years.
JPMorgan Responds
JPMorgan denied any political motivations. Trish Wexler, a spokesperson for the bank, said, “While we won’t get specific about a client, we don’t close accounts because of political beliefs. We appreciate that this administration has moved to address political debanking and we support those efforts.”
The bank emphasized that account decisions are not made based on politics, contradicting Trump’s claims.
Tensions With Jamie Dimon
Trump’s feud with JPMorgan CEO Jamie Dimon dates back to 2024, when Dimon was reportedly considered for Treasury Secretary during Trump’s campaign. That relationship has since deteriorated. Dimon has publicly rejected any connection to a Fed Chair offer from Trump, calling reports of such an offer “a joke.”
Trump disputed a Wall Street Journal report, claiming he never offered Dimon the Federal Reserve chair position and criticized the outlet for poor fact-checking.
Previous Legal Action
This is not Trump’s first banking dispute. In 2025, the Trump Organization sued Capital One, claiming the bank unfairly cut off access to accounts linked to businesses founded by Trump’s father and managed by Trump himself before he entered politics.
Broader Context
Trump has repeatedly clashed with JPMorgan over policy and banking decisions. He criticized Dimon’s warnings about Justice Department investigations into Fed Chair Jerome Powell and opposed the bank’s stance on capping credit-card interest rates, arguing such measures would harm consumers.
The upcoming lawsuit could escalate tensions between Trump and one of the largest U.S. banks, adding another chapter to the former president’s ongoing claims of “debanking” against conservatives.
What’s Next
Trump says he will file the lawsuit in the next two weeks. The case will likely draw significant media attention, given the high-profile individuals involved and the ongoing debate over banking access for politically exposed figures.
