President Donald Trump said he’ll be “suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th [2021] Protest,” according to a post Saturday on Truth Social.
The main thrust of the post is a refutation of a Wednesday article from The Wall Street Journal, which noted – according to anonymous sources – that Trump “offered” JPMorgan CEO Jamie Dimon the post of Federal Reserve chair some months ago but that Dimon interpreted it as a joke.
“There was no job offer,” Dimon said in a statement seen Saturday by Reuters.
When asked Thursday at a U.S. Chamber of Commerce event about The Wall Street Journal anecdote, Dimon said, “Chairman of the Fed, I’d put in the absolutely, positively no chance, no way, no how, for any reason,” according to Bloomberg.
But, he added, “I would take the call” if the discussion turned to Treasury secretary.
In his Saturday statement, Dimon clarified that he has “enormous respect for [Treasury] Secretary [Scott] Bessent and think he’s doing an excellent job for our country — better than I could have.”
JPMorgan backpedaled, too, with bank spokesperson Trish Wexler telling CNBC she should have pushed back harder over the word “offer.”
“I should have been more vigilant in correcting that word while attempting to dispute the WSJ’s anonymous sources,” she said.
Trump, meanwhile, focused his ire on the Journal.
“Why wouldn’t The Wall Street Journal call me to ask whether or not such an offer was made?” Trump wrote on Truth Social. “I would have very quickly told them, ‘NO,’ and that would have been the end of the story.”
He also defended his choice at Treasury.
“I have Scott Bessent doing a fantastic job, A SUPERSTAR — Why would I give [that post] to Jamie?” Trump wrote. “The Wall Street Journal ought to do better ‘fact checking,’ or its already strained credibility will continue to DIVE.”
It’s worth noting, though, that Trump restated his debanking allegation just before leaving for the World Economic Forum in Davos, Switzerland – where he first raised such claims against JPMorgan and Bank of America last year.
“You’ve done a fantastic job, but I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank,” Trump told BofA CEO Brian Moynihan in January 2025.
Bank of America disclosed in an October filing that it was “responding to demands and requests regarding ‘fair access to banking,’” including those resulting from an August executive order from Trump, directing federal regulators to remove guidance that enables “politicized or unlawful” debanking.
JPMorgan made a similar disclosure to investors in November.
“While we won’t get specific about a client, we don’t close accounts because of political beliefs,” Wexler said Saturday in her statement. “We appreciate that this administration has moved to address political debanking and we support those efforts.”
The Office of the Comptroller of the Currency in December issued a report accusing nine banks, including JPMorgan and Bank of America, of making “inappropriate distinctions among customers” because of policies that restricted banking services to clients with ties to certain industries, though no mention was made of clients’ personal politics.
A Florida-based Bank of America customer this month sued the bank, alleging it “data-mined” its users to identify anyone who used a BofA product in the Washington, D.C., metro area between Jan. 5 and Jan 7, 2021. That time frame bookends the Capitol insurrection.
A BofA spokesperson denied the claims and said the lawsuit is “without merit.”
