Trump says JPMorgan Chase, Bank of America rejected him as a customer

## Trump Claims Banks Rejected Him, Reigniting “De-Banking” Debate

This article discusses former President Donald Trump’s recent claims that major American banks, specifically JPMorgan Chase and Bank of America, rejected him as a customer. This has reignited the debate surrounding the alleged “de-banking” of conservative clients and the potential political motivations behind such actions.

Here’s a breakdown of the key points:

• Trump’s Claims: Trump stated that JPMorgan Chase informed him to move “hundreds of millions of dollars” and that Bank of America refused to open an account for him. He didn’t specify when these events occurred.
• Context of the Issue: This comes amidst ongoing concerns from conservatives, crypto executives, and religious organizations who claim they’ve been unfairly denied banking services.
• Bank Responses: JPMorgan Chase denied targeting conservatives or Trump supporters, stating they don’t close accounts for political reasons. Bank of America declined to comment.
• Regulatory Pressure: Banks often cite compliance with federal laws (like the Bank Secrecy Act) aimed at preventing financial crimes as a reason for account closures, especially in high-risk industries.
• Political Implications: The issue puts banks in a difficult position, potentially angering both Trump and his supporters while also benefiting from his administration’s regulatory rollbacks.
• Executive Order: The Trump administration is reportedly preparing an executive order that could fine banks for dropping customers based on political grounds.
• Industry Response: A banking trade group suggests “regulatory overreach” is the root cause of the problem.
• Previous Lawsuit: Trump’s company previously sued Capital One, alleging improper account closures, which the bank denied.

For more details, you can read the original article on CNBC: [Insert CNBC Article Link Here]