Trump Criticizes Major Banks Over Reputational Concerns in Deposit Disputes

Former President Donald Trump has publicly criticized leading U.S. financial institutions for allegedly refusing his deposits, citing concerns over their reputation and political bias. In a recent CNBC interview, Trump claimed that JPMorgan Chase and Bank of America declined his attempts to deposit substantial sums after his presidential term ended. "I had hundreds of millions in various accounts, and they told me, ‘Sorry, sir, we can’t accept your deposits. You have 20 days to withdraw,’" Trump stated regarding JPMorgan Chase. He asserted that Bank of America had similar responses. Facing these obstacles, Trump mentioned he was compelled to distribute his funds across multiple smaller banks. He attributes these actions to a political crackdown orchestrated by the Biden administration, suggesting that regulators pressured banks to treat him as a liability, not due to business reasons but as a targeted political move against conservatives and supporters. "They discriminate against me and many others who hold conservative beliefs," he asserted. "It might be about Trump supporters more than conservatives overall." In response, a draft executive order has emerged, as reported by Th...