Trump says big banks rejected him

President Donald Trump accused two of the country’s largest banks, JPMorgan Chase and Bank of America, of denying him banking services. He didn’t mention when.

Speaking to CNBC’s Squawk Box, the President claimed JPMorgan gave him 20 days to move “hundreds of millions of dollars in cash,” while BofA turned him down to “deposit a billion dollars-plus,” and denied him an account.

Trump linked the rejections to political bias against conservatives.

However, both banks pushed back against the accusations. They deny such targeting of people based on political or religious beliefs, and mentioned compliance with federal laws like the 1970 Bank Secrecy Act.

Trump’s comments come as his administration reportedly drafts an executive order to penalize banks that drop customers for political reasons.