The largest US banks JPMorganChase and Bank of America refused to service the country's President Donald Trump due to a protest on January 6, 2021, when, after the first presidential term, the Trump administration opposed the recognition of Joe Biden as the new American leader. This was reported on August 5 by The New York Post, citing sources.
"JPMorgan and Bank of America "deprived the bank" of President Trump ... after pressure from banking regulators of the Biden administration and the Federal Reserve System," the publication said.
It is noted that the Biden administration and the Federal Reserve System put pressure on Trump's debanking.
"The regulatory authorities have made it clear to us that we should not deal with him," NYP quotes bankers.