Trump Claims He's Being Financially Blacklisted by America's Biggest Banks

Washington, D.C. - August 5, 2025 - Former President Donald Trump has accused major U.S. banks - including financial giants like JPMorgan Chase and Bank of America - of blacklisting him and his supporters by refusing to handle his funds. The explosive allegation has now reportedly caught the attention of the White House, which may launch an inquiry into what critics are calling "politically motivated financial censorship."

Speaking to CNBC on Tuesday, Trump expressed anger over what he called a "coordinated campaign" within the banking sector to punish those aligned with him. "It's not just that I've been treated unfairly - they're going after my supporters too," Trump said. "This isn't even about conservatism anymore. It's about erasing people for backing Trump."

His comments arrive amid reports that the Biden administration is drafting an executive order that would direct federal agencies to investigate claims of ideological or political bias in banking decisions. A leaked draft obtained by Reuters indicates that financial institutions may soon face intensified oversight when it comes to terminating accounts over perceived political leanings.

Trump cited his own situation as a case in point, claiming that JPMorgan Chase abruptly cut ties with him after he left office, despite what he described as holding "hundreds of millions" in the bank. "They gave me 20 days to take my money out - no explanation," he said. He further alleged that when he attempted to deposit funds elsewhere, Bank of America refused to accept them, forcing him to split his assets among smaller regional banks.

Although he didn't offer direct evidence for these assertions, Trump suggested that the Biden administration may be quietly encouraging financial institutions to marginalize him economically.

In a rare public statement, JPMorgan Chase denied that politics had anything to do with the closure of Trump's accounts. "We do not shut down accounts because of someone's political opinions," the company said. "We agree with President Trump that clearer regulations are needed and support the administration's effort to address the issue."

Bank of America has yet to respond to the allegations.

The situation marks a fresh flashpoint in Trump's ongoing feud with America's most powerful institutions - a feud he claims now extends beyond politics into personal financial warfare. Whether this becomes a full-blown scandal or fizzles into partisan noise may depend on whether concrete evidence emerges - and how regulators respond in the days ahead.