Trump to Sue JPMorgan Over Alleged Banking Restrictions
Is Trump's lawsuit based on legitimate grievances or on unfounded claims?
Above: JPMorgan offices at Canary Wharf in London, U.K., on Jan. 5. Image credit: Mike Kemp/In Pictures/Getty Images
The Spin
Pro-Trump narrative
JPMorgan Chase inappropriately debanked customers, including President Trump himself, after the Jan. 6 protest, which was nothing more than a legitimate demonstration against a rigged election. Institutions such as JPMorgan must be held accountable for these discriminatory practices, which is why the president is taking the bank to court.
Anti-Trump narrative
Banks do not close accounts based on any given customer's political leanings. Instead, institutions such as JPMorgan serve tens of millions of clients every year, including conservatives, without any process resembling a political litmus test. When banks do exit relationships, it's lawful and in accordance with the regulations laid out by Congress.
