financetom
Business
financetom
/
Business
/
Trump accuses Bank of America, JPM of not doing business with conservatives
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump accuses Bank of America, JPM of not doing business with conservatives
Jan 23, 2025 10:06 AM

(Reuters) - U.S. President Donald Trump, addressing the World Economic Forum in Davos, Switzerland, via video link on Thursday, accused the CEOs of Bank of America and JPMorgan Chase ( JPM ) of not providing banking services to conservatives, but offered no evidence or specifics of any wrongdoing.

"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. ... what you're doing is wrong," Trump said during a question and answer session with corporate leaders and CEOs, who were assembled on stage.

Speaking right after Trump made the comment, Bank of America CEO Brian Moynihan did not address the claim that the bank was shunning conservatives. Instead, he complimented Trump on the U.S. hosting the upcoming World Cup.

"We serve more than 70 million clients, we welcome conservatives and have no political litmus test," a Bank of America spokesperson said in an email.

"We have never and would never close an account for political reasons, full stop. We follow the law and guidance from our regulators and have long said there are problems with the current framework Washington must address. We welcome the opportunity to work with the new Administration and Congress on ways to remove regulatory ambiguity while maintaining our country's ability to address financial crime," a spokesperson for JPMorgan ( JPM ) said in an emailed statement.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved