President Trump said Saturday he plans to sue JPMorgan Chase over what he described as the bank’s improper decision to close his account after the Jan. 6, 2021, Capitol protest.
In a Truth Social post, Trump also pushed back on a Wall Street Journal report claiming he offered JPMorgan CEO Jamie Dimon the job of Federal Reserve chair.
“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,” Trump wrote.
“This statement is totally untrue, there was never such an offer and, in fact, I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest, a protest that turned out to be correct for those doing the protesting — The Election was RIGGED!” he added.
A JPMorgan spokesperson rejected Trump’s claim, saying political views do not factor into account decisions.
“We don’t close accounts because of politics,” JPMorgan spokesperson Trish Wexler told The Hill.
The comments come as Trump continues to spotlight the broader issue of “debanking” — when major financial institutions cut off customers, often amid political or cultural controversy. Last year, Trump signed an executive order directing regulators to investigate and punish financial institutions for what the administration described as “politicized or unlawful debanking.”
Wexler told CNBC, “We appreciate that this Administration has moved to address political debanking and we support those efforts,” but she also pushed back on reports from The Wall Street Journal suggesting Dimon had been offered the Fed’s top job.
“I should have been more vigilant in correcting that word while attempting to dispute the WSJ’s anonymous sources,” she told the outlet.
Dimon addressed the idea of a potential government role earlier this week while speaking with David Rubenstein at an event hosted by the U.S. Chamber of Commerce.
“Chairman of the Fed, I’d put in the absolutely, positively no chance, no way, no how, for any reason,” Dimon said.
“Secretary of the Treasury, I would consider. You know, if a President calls you up and asks you to do something, you know, you should consider it. So I would take the call and consider it and think about why and what they want, etc. But what they want and how they want to operate, that would be important to me,” he added.
On Saturday, Dimon confirmed there had been no official job offer from the Trump administration, according to the New York Post.
In recent months, Trump has frequently criticized Federal Reserve Chair Jerome Powell, arguing the central bank should cut interest rates more aggressively to support economic growth and keep the U.S. competitive.
