Bank of America CEO Backs Trump’s Claims of Debanking Discrimination

Former President Donald Trump has ignited controversy by alleging that JPMorgan Chase and Bank of America systematically denied him banking services post-presidency. His claims of political bias in financial access have drawn attention from conservative circles and crypto advocates, raising questions about debanking practices.

Trump asserts that JPMorgan gave him a 20-day ultimatum to MOVE "hundreds of millions" while Bank of America refused a $1 billion deposit. "They discriminate against many conservatives," he stated during a recent address. These allegations come amid growing scrutiny of financial exclusion targeting political figures and industries like cryptocurrency.

The debanking phenomenon—where institutions terminate accounts based on political views or sector affiliation—has become a flashpoint in financial freedom debates. While banks maintain compliance protocols, critics argue these policies enable viewpoint discrimination. The situation underscores broader tensions between financial infrastructure and ideological neutrality.