President Trump plans to sue JPMorgan Chase for closing his accounts after the Capitol riot. He accuses the bank of “incorrectly and inappropriately debanking” him on his Truth Social platform. The threat comes amidst JPMorgan’s disapproval of a DOJ investigation into the Federal Reserve Chair.

Trump’s threat to sue rekindles a longstanding grievance over his abrupt removal from JPMorgan in 2021. The bank denies political motivations but acknowledges reputational concerns. The potential lawsuit may escalate tensions between Trump and the financial sector, setting a precedent for handling politically sensitive clients.

The White House proposes capping credit card interest rates at 10%, a move JPMorgan warns could limit credit access. Trump’s lawsuit threat against the bank highlights ongoing friction post-Capitol riots. The outcome could shape how banks navigate relationships with politically charged figures in the future.

Read more at Yahoo Finance: ‘I’ll Be Suing JPMorgan Chase’ Over Post-January 6 ‘Debanking’