Trump Threatens Lawsuit Against JPMorgan Over Alleged Debanking After January 6

President Donald Trump said on Saturday that he plans to sue JPMorgan Chase within the next two weeks, accusing the banking giant of “debanking” him following the January 6 Capitol riot. Trump made the claim in a post on Truth Social, alleging that JPMorgan incorrectly and inappropriately terminated a banking relationship that had lasted for decades without providing fair notice. He framed the dispute as part of his broader narrative around what he calls “Operation Chokepoint 2.0,” a term he uses to describe alleged politically motivated financial exclusion.

In his post, Trump claimed that JPMorgan severed ties with him after the January 6 protest but did not provide documents or additional evidence to support the allegation. As of now, JPMorgan has not issued a public response addressing Trump’s claims. The president asserted that the bank’s actions were unjustified and politically driven, reinforcing his long-standing criticism of large financial institutions.

Trump also used the post to deny a recent Wall Street Journal report suggesting that he had offered JPMorgan CEO Jamie Dimon the role of Federal Reserve chair. Trump dismissed the report as false, stating that no such offer was ever made. He further rejected claims that Dimon had been considered for the position of Treasury Secretary, clarifying that he holds Treasury Secretary Scott Bessent in high regard and never intended to replace him.

The renewed clash comes amid heightened tensions between JPMorgan and the Trump administration over the independence of the Federal Reserve. Dimon has publicly warned that political interference in the central bank could destabilize financial markets, potentially increasing inflation expectations and driving up interest rates. These comments followed the launch of a Justice Department criminal investigation related to Federal Reserve Chair Jerome Powell, a probe that JPMorgan has openly criticized.

Adding to the economic uncertainty, Trump recently announced plans to impose a 10% tariff on commodities from several European countries starting February 1, with a threat to raise the rate to 25% by June 1 unless conditions tied to Greenland’s acquisition are met. The proposed tariffs, coming ahead of a Supreme Court decision on Trump-era trade measures, have intensified concerns about global markets and the limits of executive trade authority.