President Donald Trump announced Saturday he plans to sue JPMorgan Chase for allegedly closing his bank accounts after the Jan. 6, 2021, Capitol protest.
Trump made the announcement in a Truth Social post while also denying a Wall Street Journal report that claimed he offered JPMorgan CEO Jamie Dimon the Federal Reserve chair position.
“I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest,” Trump wrote on Truth Social. (RELATED: White House Reportedly Taking Aim At Banks Allegedly Cancelling Conservatives’ Accounts)
JPMorgan has repeatedly denied targeting customers for political reasons. A bank spokeswoman told CNBC in August 2025 that the company does not close accounts based on politics and agreed with Trump that “regulatory change is desperately needed.”
Dimon himself appeared to dismiss any interest in the Fed chair role during a Chamber of Commerce event Thursday. Fortune reported the JPMorgan chief said there was “absolutely, positively no chance, no way, no how, for any reason” he would take the position.
Trump has previously said alleged JPMorgan refused his business after he left office. He told CNBC in August 2025 that the bank gave him 20 days to close his account. Fox Business reported in November 2025 that Florida Attorney General James Uthmeier opened a probe into JPMorgan over alleged coordination with federal investigators during the Biden administration.
The bank disclosed in an SEC filing last November that it faces “reviews, investigations and legal proceedings” tied to the Trump administration’s debanking crackdown, according to Banking Dive. Trump signed an executive order in August 2025 directing regulators to investigate whether banks discriminated against customers for political or religious beliefs.
The lawsuit announcement follows a similar legal action that Trump’s company filed against Capital One in March 2025 over the closure of more than 300 accounts.
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