Trump claims major US banks rejected him over conservative politics

President Donald Trump said Tuesday that major US banks had turned down his business as part of an alleged pattern of political discrimination against conservatives that right-wing figures have long claimed.

“They discriminate against many conservatives,” said Trump, who reportedly is preparing an executive order to address the issue.

Trump, in an interview on CNBC, said both JPMorgan Chase and Bank of America had shunned him.

JPMorgan Chase told Trump, “You have 20 days to get out” of the bank’s operations, the president told the network.

When Trump tried to open accounts at Bank of America, he was also rebuffed. Trump said that occurred “after I was president,” likely the period following his supporters’ January 6, 2021 siege on the US Capitol that prompted widespread condemnation.

Trump said he personally lobbied both JPMorgan Chief Executive Jamie Dimon and Bank of America Chief Executive Brian Moynihan, but neither relented.

“Brian was kissing my ass when I was president, and when I called him after I was president to deposit a billion dollars plus and a lot of other things,” Trump said. “He said, ‘We can’t do it.'”

Bank of America declined to comment on Trump’s remarks Tuesday. The bank has previously said that “political beliefs are not a factor in account closure decision.”

It said it “welcomed” the Trump administration’s efforts to “provide regulatory clarity to banks,” adding that it was working with the White House on improving regulation.

JPMorgan said it doesn’t close accounts for political reasons, but supported improved regulation of banks in a statement that did not directly comment on Trump’s account of his dealing with Dimon.

“We’re pleased to see the White House is addressing this issue, for which we’ve been advocating for many years, and look forward to working with them to get this right,” JPMorgan said.

The White House has prepared an executive order to pressure big banks over perceived discrimination against conservatives, according to the Wall Street Journal, which reviewed a draft of the policy.

The draft order criticizes the role some banks played after January 6, said the Journal, which added the order could be signed this week but that it was also possible the administration’s “plans could change.”

AFP

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