Trump plans to sue JPMorgan Chase over bank withdrawal claims after January 6 protest
JP Morgan Asset Management Chief Global Strategist David Kelly analyzes Fed rate cuts and inflation outlook for 2026 in ‘Barron’s Roundtable.’
President Donald Trump said Saturday he plans to sue JPMorgan Chase, accusing the banking giant of improperly freezing its accounts after the January 6, 2021, riots at the Capitol.
Trump made the allegations in a lengthy tweet on Truth Social, where he also denied a report that he had offered JPMorgan CEO Jamie Dimon the job of chairman of the Federal Reserve.
Trump also pushed back on proposals he had considered for Dimon as Treasury secretary, saying he already has Scott Besent in the role.
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President Donald Trump says he plans to sue JPMorgan Chase, accusing the bank of improperly closing his accounts after Jan. 6. Image file. (Tim Clayton/Corbis via Getty Images/Getty Images)
“The problem is, I have Scott Bessent who is doing a great job, A SUPERSTAR – Why would I give it to Jamie? No such offer has been made there, or even considered,” wrote Trump.
Trump continued to defend those who protested on Jan. 6, writing, “a protest that seemed fair to those doing the protest – The Election was RIGGED!”
Dimon dismissed that claim in a statement, telling Fox Business in a statement, “There was no job offer. I have a lot of respect for Secretary Bessent and I think she’s doing a great job for our country — better than I could.”
Violent protests erupted in Washington, DC, as Congress approved Electoral College votes for President Joe Biden. Some Trump supporters have called on Vice President Mike Pence to return the 2020 election results to state legislatures for review. Trump’s critics accused him of inciting violence, which led to his impeachment by the House. He was later acquitted by the Senate.
Trump also denied a Wall Street Journal report that he had offered JPMorgan executive Jamie Dimon the job of Fed chairman. (Michel Euler/Pool/AFP via Getty Images/Getty Images)
Trump was also banned from many social media platforms after the incident.
Trump has said publicly in interviews that JPMorgan Chase gave him a deadline, reportedly 20 days, to move hundreds of millions of dollars and effectively freeze his accounts after Jan.
In a statement sent to Fox Business, JPMorgan Chase spokeswoman Trish Wexler said, “Serving more than 80 million Americans is our privilege, and we agree that no one’s account should be closed because of political or religious beliefs. We are grateful that this government has moved to address the bank’s depoliticization, and we support those efforts.”
Dimon last year denied that the bank was turning away conservatives or customers based on political views.
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President Donald Trump accused the banking giant of improperly freezing his accounts after the January 6, 2021, Capitol protest. (Photos by Andrew Harnik/Getty/Getty)
“We don’t fire people because of political or religious affiliation,” Dimon told FOX Business on Capitol Hill Feb. 13, 2025. “But there are many things that can be fixed. We have to fix them. The rules and requirements are very difficult, and it causes people to withdraw from the bank in my opinion, it should not be discussed.”
When asked if bank regulators were to blame for the bailout, Dimon replied, “Pretty much, yes.”
Bank of America CEO Brian Moynihan, who has also been under fire from the White House for alleged withdrawals, gave a similar response in a separate FOX Business interview that day.
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“We have 70 million customers, and we’re happy to serve anyone,” Moynihan said.
When pressed on President Trump’s allegations, Moynihan declined to elaborate, telling Fox Business, “You’ll have to talk to him about that, thank you.”
