Trump Claims Major U.S. Banks Refused to Work With Him Over Conservative Politics

Former U.S. President Donald Trump has alleged that leading American banks, including JPMorgan Chase and Bank of America, declined to do business with him after his presidency—claims he attributes to bias against his conservative political views.

Speaking in an interview with CNBC on Tuesday, August 5, Trump said:

“They discriminate against many conservatives.”

He also hinted that an executive order may be in the works to address what he described as politically motivated financial discrimination.

Trump specifically named JPMorgan Chase and Bank of America, claiming both institutions turned him away after he left office, citing the aftermath of the January 6 Capitol riot as a possible reason.

According to Trump, JPMorgan Chase gave him a 20-day notice to close his accounts. He also alleged that Bank of America refused to open new accounts for him, despite what he described as a previous positive relationship with its CEO, Brian Moynihan.

“Brian was kissing my ass when I was president,” Trump said. “And when I called him after I was president to deposit a billion dollars plus, he said, ‘We can’t do it.’”

Both banks have denied making decisions based on political affiliation.

A spokesperson for Bank of America stated that the bank does not make customer decisions based on political views, noting it had previously worked with the Trump administration on regulatory matters.

JPMorgan also declined to comment directly on Trump’s claims, but said it supports fair access and does not close accounts due to political beliefs.

The Wall Street Journal reports that the White House is considering an executive order aimed at curbing what it views as political discrimination by financial institutions. The draft order reportedly criticizes how certain banks cut ties with clients following the events of January 6, 2021. The order could be signed as soon as this week, though final details are still being reviewed.

Trump’s claims echo a broader narrative among conservative circles, who argue that major institutions—including banks and tech companies—are increasingly hostile toward right-wing figures.