The bank responded by saying that it does not debank individuals over political beliefs.
President Donald Trump on Jan. 17 said he intended to file a lawsuit against JPMorgan Chase for what he alleged were efforts to remove his access to banking following the Jan. 6, 2021, U.S. Capitol breach.
In a post on Truth Social, the president wrote, “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.”
He also wrote that he believes that the 2020 presidential election was rigged against him.
A spokesperson for the banking giant, Trish Wexler, told media outlets in response that JPMorgan “won’t get specific about a client” but stipulated that it does not “close accounts because of political beliefs.”
“[JPMorgan officials also] appreciate that this Administration has moved to address political debanking and we support those efforts,” Wexler said in a statement, referring to an order issued by Trump in 2025.
Trump did not provide more details about the lawsuit but dismissed claims in a report from The Wall Street Journal that he offered JPMorgan CEO Jamie Dimon a position as the chairman of the Federal Reserve, saying that the claims are “totally untrue.”
“No such offer was made there, or even thought of, either,” he said.
He also said Treasury Secretary Scott Bessent is doing a “fantastic job” as head of the department.
Wexler told reporters that the claims in The Wall Street Journal that Dimon had been offered positions in the administration were due to a miscommunication on her part.
“I should have been more vigilant in correcting that word while attempting to dispute the [Journal’s] anonymous sources,” she said.
In August 2025, Trump issued an executive order to ensure that banks cannot refuse services to individuals based on their political or religious beliefs, a practice known as “debanking.” A watchdog in December found that nine large U.S. banks actively engaged in the practice between 2020 and 2025.
“To date, the [Office of the Comptroller of the Currency] has observed that between 2020 and 2023, the banks maintained public and nonpublic policies restricting certain industry sectors’ access to banking services,” the report reads. “Many industry sectors were restricted based primarily on how it might appear to the public if the bank provided access to financial services to these sectors.”
