Trump says he’ll sue JPMorgan Chase for allegedly cutting him off after US Capitol riot | Donald Trump
Donald Trump threatened to sue JPMorgan Chase on Saturday, citing the false claim that major banks discriminated against him after the Jan. 6, 2021 Capitol riot.
Trump announced the possible lawsuit in a post on social media, tying the threat to a recent criticism he made. Wall Street Magazine Article reporting that JPMorgan Chase CEO Jamie Dimon was offered the position of chairman of the US Federal Reserve. Trump insists the report is false and says no such offer was ever made.
The president also repeated his claim that JPMorgan Chase, the largest bank in the United States, improperly cut off banking access after the Jan. 6 Capitol attack without providing evidence. He also did not provide evidence for his oft-repeated false claim that the 2020 presidential election was rigged against him.
“Within the next two weeks I will be suing JPMorgan Chase for wrongfully and improperly REMOVING my bank account after the January 6th Protest, a protest that turned out to be true for those protesting – The Election was RAIDED!” he wrote.
Trump claimed that following the events of January 6, 2021, many banks, including JPMorgan Chase and Bank of America, refused to accept his deposits. Both institutions vehemently denied these accusations.
JP Morgan has been contacted for comment.
Last week, Dimon told reporters that Trump’s attacks on Federal Reserve chairman Jerome Powell put central bank independence at risk and could backfire, ultimately driving up interest rates and inflation.
Trump responded by defending his campaign against Powell, saying: “I think what I did was good. And we have a bad Fed employee on our hands.”
Asked about comments from Dimon, who warned against undermining the Fed’s independence, Trump said this week: “I think he’s wrong. We should have had a lower rating.” [interest] rates. “Jamie Dimon probably wants higher rates, maybe he makes more money that way.”
Trump and his administration have come under fire in recent days for their attacks on Powell, who is facing a criminal investigation by the U.S. Justice Department for alleged “misuse of taxpayer dollars” in connection with the renovation of the central bank’s headquarters in Washington.
Powell claimed that the Fed was targeted because it did not accept Trump’s interest rate cut demands. The president claimed he was unaware of the investigation until it came to light last weekend.
Trump also took further shots at the Wall Street Journal on Saturday, stating that the paper “needs to do a better ‘fact check’ or its already strained credibility will continue to DECLINE.”
Last year, Trump filed a $10 billion lawsuit against Journal owner Rupert Murdoch and two Journal reporters for libel and slander over allegations that he sent sex offender Jeffrey Epstein an obscene letter and a drawing of a naked woman.
