US President Donald Trump is set to sue JPMorgan Chase in the coming weeks over allegations that the bank cut off his banking services following the January 6th, 2021 US Capitol riot. The claim comes despite no concrete evidence supporting this assertion.
Trump's assertion stems from a recent Wall Street Journal article which reported that he had offered Jamie Dimon, CEO of JPMorgan Chase, the position of US Federal Reserve chair. However, Trump maintains that this report is inaccurate and that no such offer was ever made.
The president has repeatedly claimed that major banks, including JPMorgan Chase and Bank of America, improperly cut off his banking access following the Capitol riot without providing any evidence to back up these claims. Notably, he also failed to provide any evidence for his baseless allegations regarding the 2020 presidential election.
Trump recently issued a statement on social media stating that he intends to sue JPMorgan Chase over their alleged actions, citing 'incorrect and inappropriately DEBANKING'. He has made unsubstantiated claims about several banks refusing to accept his deposits after January 6th. However, both institutions have strongly denied these accusations.
Jamie Dimon and JPMorgan Chase have responded by saying that no job offer was ever made and that the bank values its customers regardless of their political affiliations. The bank has also stated that it supports efforts to address 'political debanking'.
The latest development comes amidst ongoing tensions between Trump and Jerome Powell, the Federal Reserve chair. Dimon recently warned about the risks of chipping away at central bank independence and said that lower interest rates could be detrimental.
The recent comments have led some to question whether Trump's attacks on Powell are being driven by a personal vendetta rather than any genuine concern for the economy.
Trump's assertion stems from a recent Wall Street Journal article which reported that he had offered Jamie Dimon, CEO of JPMorgan Chase, the position of US Federal Reserve chair. However, Trump maintains that this report is inaccurate and that no such offer was ever made.
The president has repeatedly claimed that major banks, including JPMorgan Chase and Bank of America, improperly cut off his banking access following the Capitol riot without providing any evidence to back up these claims. Notably, he also failed to provide any evidence for his baseless allegations regarding the 2020 presidential election.
Trump recently issued a statement on social media stating that he intends to sue JPMorgan Chase over their alleged actions, citing 'incorrect and inappropriately DEBANKING'. He has made unsubstantiated claims about several banks refusing to accept his deposits after January 6th. However, both institutions have strongly denied these accusations.
Jamie Dimon and JPMorgan Chase have responded by saying that no job offer was ever made and that the bank values its customers regardless of their political affiliations. The bank has also stated that it supports efforts to address 'political debanking'.
The latest development comes amidst ongoing tensions between Trump and Jerome Powell, the Federal Reserve chair. Dimon recently warned about the risks of chipping away at central bank independence and said that lower interest rates could be detrimental.
The recent comments have led some to question whether Trump's attacks on Powell are being driven by a personal vendetta rather than any genuine concern for the economy.