Jamie Dimon, Chairman and CEO of JPMorgan Chase, spoke at the Reagan National Defense Forum held at the Ronald Reagan Presidential Library in Simi Valley, California, on December 6, 2025.
On Saturday, former President Donald Trump threatened to take legal action against JPMorgan Chase, claiming the bank unjustly terminated his banking services following the January 6, 2021, U.S. Capitol riot.
"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," Trump stated in a social media post, reiterating his belief that the "Election was RIGGED!"
Neither JPMorgan Chase nor the White House immediately responded to CNBC's inquiry for comment.
In August, Trump issued an executive order mandating banks to ensure they do not deny financial services to clients based on religious or political beliefs, addressing concerns over "debanking."
In an August CNBC interview, Trump alleged without evidence that he faced personal discrimination from banks, claiming both JPMorgan Chase and Bank of America refused his deposits following his presidency.
At that time, JPMorgan asserted it does not close accounts for political reasons, while Bank of America refrained from commenting on client matters, noting a preference for clearer regulatory guidelines.
Trump and his family have a history of criticizing financial institutions for allegedly declining to conduct business due to their political views.
Last year, Donald Trump Jr. mentioned the family's challenges in accessing services from large banks, reportedly influencing their decision to venture into the cryptocurrency industry.
"So, [my family] got into crypto, not because it was like, 'hey, this is the next cool thing,' we got into it out of necessity," Trump Jr. stated in a CNBC interview last June.
JPMorgan shares have declined by approximately 5% over the past week, despite exceeding expectations for fourth-quarter earnings and revenue on Tuesday. The drop occurred as financial institutions responded to Trump's demand for capping credit card rates at 10%, with a compliance deadline of January 20.
Trump's legal threat against JPMorgan coincides with his denial, in the same Truth Social post, of a Wednesday Journal report suggesting he had offered JPMorgan CEO Jamie Dimon the Federal Reserve chairman role months earlier during a White House meeting.
According to the Journal, Dimon considered the offer humorous.
Trump denied the Journal report, expressing his reservations about Dimon and JPMorgan.
"This statement is totally untrue, there was never such an offer," Trump wrote. "Why wouldn't The Wall Street Journal call me to ask whether or not such an offer was made? I would have very quickly told them, "NO," and that would have been the end of the story."
The Journal and JPMorgan did not immediately respond to a request for comment outside typical business hours.
Current Federal Reserve Chairman Jerome Powell's term is set to end on May 15.