President Donald Trump said Tuesday that the two largest American banks rejected him as a client, which revived the statements that conservative clients were being unjustly denied accounts.
Trump told “Squawk Box” of CNBC in a wide interview that JPMorgan Chase He informed him that he was 20 days to move “hundreds of millions of dollars in cash” to another bank. He didn't say when this happened.
The president said he later approached Bank of America To “deposit one billion more dollars” and told him that the bank could not provide an account, Trump said.
“[Bank of America CEO Brian Moynihan] He said: 'We can't do it, “Trump said.” So I went to another, another, another. I ended up going to small banks all over the place. I mean, I was putting $ 10 million here, $ 10 million there. “
The actions of the two banks fell less than 1% in the morning negotiation.
Some conservatives, cryptographic executives and religious organizations have claimed to be unfairly “disheveled” by the great financial institutions of the United States. In their defense, banks say they must comply with federal laws aimed at preventing financial crimes, including the Banking Secretation Law of 1970.
The problem appeared again in January, when Trump accused the CEO of Bank of America, Brian Moynihan, to deny services to conservative clients.
The Trump administration is preparing an executive order that threatens the industry with fines if they drop clients for political reasons, the Wall Street Journal reported Monday. A draft of the order version asks the regulators to investigate whether the banks violated the laws, according to the Journal.
While Trump mentioned his business on Tuesday, probably referring to his clogger for real estate and hospitality, it was not clear if this episode was in reference to personal or commercial accounts, or both.
“The banks discriminated to me very badly, and I was very good with the banks,” Trump said.
Trump said he believes that the big banks rejected him already their supporters because the regulators during the Biden administration applied pressure to the companies.
In a March demand filed against Capital One, the president's company alleged that the Bank incorrect more than 300 accounts a few months after the assault of January 6, 2021 to the United States Capitol. The bank denied the accusations.
JPMorgan denied attacking the conservatives or Trump's supporters for overbagic.
“We do not close the political reasons, and we agree with President Trump that the regulatory change is desperately necessary,” said a spokeswoman for JPMorgan. “We praise the White House to address this problem and hope to work with them to do it well.”
A spokesman for the Bank of America refused to comment immediately.
