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President Donald Trump announced Saturday that he will be suing the investment banking company JPMorgan Chase within “the next two weeks” for allegedly “DEBANKING” him after the Jan. 6, 2021, Capitol insurrection.
Trump has claimed that the investment bank closed or restricted his accounts following the riot, effectively cutting him off from longstanding banking relationships. He has framed the action as politically motivated retaliation, arguing banks acted under pressure from the Biden administration. Trump has increasingly folded this into a broader narrative of “debanking” conservatives.
JPMorgan has denied closing accounts for political reasons.
During the 2024 campaign, JPMorgan CEO Jamie Dimon had been floated for Treasury secretary by the president, but their relationship has since soured. Trump in August went after Dimon’s bank, as well as Bank of America, accusing them of discriminating against him in recent years.
Earlier in 2025, the Trump Organization sued Capital One, accusing the bank of improperly cutting off access to the business, which was founded by the president’s late father and was helmed by Trump himself before he entered politics, following the Capitol attack.
The president also took issue with a Wall Street Journal story, which reported that he offered the Federal Reserve chair position to Dimon. “A front page Article in The Fake News Wall Street Journal states, without any verification, that I offered Jamie Dimon, of JPMorgan Chase, the job of Fed Chairman. This statement is totally untrue, there was never such an offer,” Trump wrote in his Truth Social post.
“Why wouldn’t The Wall Street Journal call me to ask whether or not such an offer was made? I would have very quickly told them, ‘NO,’ and that would have been the end of the story,” Trump added in the post. “Why would I give it to Jamie? No such offer was made there, or even thought of, either. The Wall Street Journal ought to do better ‘fact checking,’ or its already strained credibility will continue to DIVE.”
Trump seemed to be pointing to a story from the Journal published Wednesday, which reported that Trump offered Dimon the role earlier last year. Dimon took that as a joke, according to the Journal, citing people briefed on the discussion.
Dimon, asked in an interview with Bloomberg published Thursday whether he’d take the role, said: "Absolutely, positively no chance, no way, no how, for any reason.”
Trump has repeatedly lashed out at Dimon, dismissing his warnings that the Justice Department’s criminal probe into Fed Chair Jerome Powell, for whom the bank CEO said he has “enormous respect,” could threaten central bank independence. Tensions escalated further as JPMorgan publicly opposed Trump’s proposal to cap credit-card interest rates, with bank executives warning the move would shrink credit and hurt consumers.
"It would be very bad for consumers, very bad for the economy," JPMorgan Chief Financial Officer Jeremy Barnum told reporters on the bank’s earnings call last Tuesday.