President Donald Trump said Saturday that he plans to sue JPMorgan Chase, accusing the bank of improperly closing his accounts after the Jan. 6, 2021, riot at the U.S. Capitol.

In a post on Truth Social, Trump said he expects to file the lawsuit within the next two weeks. He claimed JPMorgan “incorrectly and inappropriately DEBANKED” him following Jan. 6, again asserting that the 2020 election was rigged and saying the protest was justified for those who took part.

JPMorgan quickly pushed back. The bank said politics do not factor into its account decisions. “While we won’t get specific about a client, we don’t close accounts because of political beliefs,” spokesperson Trish Wexler said. She added that the bank supports efforts aimed at addressing concerns around political debanking.

That issue has been a recurring one for Trump and his allies. Over the summer, Trump signed an executive order directing banks to make sure they are not denying financial services based on political or religious views.

Trump has also said he’s felt the impact personally. In an August interview with CNBC, he claimed that JPMorgan and Bank of America declined to accept his deposits after his first term in office. JPMorgan denied the claim at the time, while Bank of America said it doesn’t comment on individual client relationships and would welcome clearer rules from regulators.

Others in the Trump family have told similar stories. Last year, Donald Trump Jr. said difficulty accessing traditional banking services played a role in the family’s move into crypto-related businesses, describing it as a decision driven by necessity rather than enthusiasm.

Trump’s Truth Social post also addressed another recent report. He denied a story from The Wall Street Journal that said he had previously offered Jamie Dimon the role of Federal Reserve chair during a White House meeting. Trump said no such offer was ever made, while JPMorgan later said the report stemmed from a miscommunication.

Meanwhile, JPMorgan shares are down about 5% over the past week, even after the bank reported stronger-than-expected fourth-quarter earnings. Bank stocks have also slipped after Trump called for a 10% cap on credit-card interest rates, a proposal that has drawn attention from investors.

Looking ahead, Federal Reserve Chair Jerome Powell is set to see his term end on May 15. JPMorgan said it will continue operating under existing rules as debate around political debanking continues.

At the time of publishing this article, Stocks.News doesn’t hold positions in companies mentioned in the article.