Trump says JPMorgan 'debanked' him after Capitol riots, plans lawsuit
Donald Trump says he's taking JPMorgan Chase to court, claiming the bank suddenly shut down his accounts right after the January 6 Capitol riots.
He believes this move was pushed by the Biden administration and says it ended a long banking relationship, leaving him scrambling to transfer his money.
Trump shared all this on Truth Social.
What else is going on?
JPMorgan's decision comes as tensions run high between the bank and Trump's camp.
The bank has openly criticized a Justice Department probe into Federal Reserve Chair Jerome Powell, with CEO Jamie Dimon warning that messing with Fed independence could hurt the economy.
Meanwhile, a White House plan to cap credit card interest rates at 10% for a year has also put JPMorgan on edge—they're worried it could make getting credit harder for everyone.