**Trump Criticizes Jamie Dimon Over Fed Chair Claims and Debanking Allegations**
Former President Donald Trump has publicly criticized Jamie Dimon, the CEO of JPMorgan Chase & Co., after Dimon claimed he was offered the position of U.S. Federal Reserve chairman and declined the offer. Trump also threatened legal action against the bank, alleging that he was “debanked” following the January 6 Capitol riot in 2021.
In a post on Truth Social on January 17, Trump dismissed Dimon’s assertion as “totally untrue,” stating, “There was never such an offer, and, in fact, I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest.”
Trump further addressed speculation regarding Dimon’s interest in the role of Treasury Secretary, currently held by Scott Bessent. He stated, “One was led to believe that I offered Jamie Dimon the job of Secretary of the Treasury, but that would be one that he would be very interested in. The problem is, I have Scott Bessent doing a fantastic job, A SUPERSTAR — Why would I give it to Jamie? No such offer was made there, or even thought of, either.”
In his lengthy post, Trump reiterated his belief that the Capitol riot was “a protest that turned out to be correct” and continued to allege that the 2020 presidential election, which Joe Biden won, was rigged.
Trump’s claims of being debanked by JPMorgan are not new. In August of the previous year, he accused the bank of discrimination after the Capitol riot, alleging that they closed accounts he had maintained for decades. JPMorgan has faced legal scrutiny and investigations related to the Trump administration’s claims of “debanking.”
Debanking, or de-risking, refers to the practice where banks and financial institutions terminate or limit their relationships with customers due to perceived risks, which can include regulatory concerns, money laundering issues, poor credit history, or being classified as a Politically Exposed Person (PEP).
In response to Trump’s accusations, Jamie Dimon has not publicly commented on the matter.
**FAQ**
**What does debanking mean?**
Debanking refers to the practice of banks terminating or limiting their relationships with customers due to perceived risks, such as regulatory issues or involvement in high-risk industries.
