Trump Blasts Dimon, Threatens to Sue JP Morgan Over Debanking

President Donald Trump, JPMorgan Chase & Co. and railed against its leader Jamie Dimon, threatening to sue the banking giant over the alleged closure of his bank account following the Capitol riot on January 6, 2021.

In a post published Saturday, Trump responded to a Wall Street Journal report that Trump offered Dimon the role of Federal Reserve chief several months ago in what Dimon interpreted as a joke.

“There was never any such offer, and in fact, I will be suing JPMorgan Chase within the next two weeks for wrongfully and improperly RELEASING MY BANK after the January 6th Protest,” Trump wrote.

He did not explain in detail. JPMorgan did not immediately respond to a request for comment over the weekend.

Trump claimed in August that JPMorgan “discriminated against me very badly,” claiming the bank asked him to close accounts he had held for decades; He stormed the Capitol to stop the 2021 certification of President Joe Biden’s victory, an action he believed was linked to his supporters. The bank later said it was facing scrutiny, investigations and legal action tied to the Trump administration’s fight against “bank closures.”

Dimon said earlier this week that he was not considering becoming Fed chairman.

“Fed Chairman, I would take absolutely, absolutely no chance, no way, no way, for any reason,” Dimon said Thursday at an event hosted by the U.S. Chamber of Commerce in response to a question about whether he would consider taking over the central bank.

As for managing the treasury, he said, “I accept the call.”

Trump has not yet said who he will nominate to replace Fed Chairman Jerome Powell, whose term ends in May. Trump said Friday he had a choice in mind but declined to identify them.

Dimon’s comments follow a public spat between Dimon and Trump earlier this week over the president’s attacks on the Fed, including criminal subpoenas issued by the Justice Department related to the renovation of the Fed headquarters. Dimon said Tuesday that reducing the Fed’s independence is “not a good idea” and could lead to higher inflation and interest rates over time.

Dimon has in the past opposed attempts by Trump allies to argue that the bank’s customer decisions are biased.

“We’re not taking away people’s religious or political affiliations,” Dimon told Fox Business in December.

With help from Tony Czuczka.

This article was generated from an automated news agency feed without modifications to the text.