President Trump just put Bank of America and JPMorgan Chase on notice over allegations that the banks have shuttered accounts and denied customers over their political beliefs.
In a virtual question-and-answer session at the World Economic Forum (WEF), Trump told Bank of America CEO Brian Moynihan to his face that he, as well as JPMorgan Chase CEO Jamie Dimon, should allow conservative-leaning citizens to open and maintain bank accounts.
[adinserter block="1"]“You’ve done a fantastic job, but I hope you start opening your bank to conservatives. Because many conservatives complain that the banks are not allowing them to do business within the bank. And that included a place called Bank of America.
They don’t take conservative business and I don’t know if the regulators mandated that because of Biden or what.
But you and Jamie (Dimon) and everybody, I hope you’re going to open your banks to conservatives, because what you’re doing is wrong.”
When Trump finished and the camera turned to Moynihan, the CEO did not respond to the pointed message, saying,
“Mr. President, I’ll say that your friend Giani told me to tell you hello and we look forward to sponsoring the World Cup when it comes both summer for the club and next year. So thank you for getting that for the United States.”
In April of last year, 15 Republican state attorneys general alleged Bank of America terminated accounts over customers’ religious and political views.
And in May of 2023, 19 Republican state attorneys general claimed Chase has “persistently discriminated” against customers due to their religious or political affiliation.
“Chase cannot call itself ‘inclusive’ and say that it ‘opposes discrimination in any form,’ while simultaneously disenfranchising its clients over religious and political differences.”
Both banks have denied the allegations in various public and legal responses, stating account closures are based on normal risk assessments, compliance requirements or violations of internal policies.
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