President Donald Trump announced his intention to pursue legal action against JPMorgan Chase, asserting that the bank “incorrectly and inappropriately DEBANKED” him following the January 6, 2021 Capitol riot, according to a post on his social media platform. Trump’s statement came as he sought to rebut a Wall Street Journal report that he had offered JPMorgan CEO Jamie Dimon the position of Federal Reserve chair, a claim Dimon and the bank denied.
In his post, Trump said he would sue JPMorgan “over the next two weeks,” framing the alleged debanking as wrongful and taking aim at the media coverage of the earlier report. The Wall Street Journal article, based on anonymous sources, suggested Trump had floated the idea of Dimon as Fed chair, but both Dimon and the bank’s spokesperson contested that characterisation. Dimon publicly dismissed any chance of taking the Fed chair role, stating there was “absolutely, positively no chance” he would consider it, though he indicated he might entertain a conversation about Treasury secretary if asked.
A JPMorgan spokesperson acknowledged in response to the media attention that the bank could have more clearly challenged the language used around the alleged job offer, but emphasised that it does not close accounts on the basis of political views. The dispute over Trump’s accounts reflects broader tensions in the banking sector over accusations of “politicised debanking,” an issue Trump has raised previously and addressed through policy measures aimed at preventing financial exclusion on political or religious grounds.
Trump’s comments also reiterated his support for his current Treasury secretary, whom he praised in contrast to the narrative around Dimon, and sought to shift focus from the Fed chair speculation to his current administration’s financial appointments. The president’s public challenge of a leading global bank underscores ongoing frictions between political figures and large financial institutions over client selection, media narratives and reputational risk
