Trump He alleged in a CNBC interview that JPMorgan Chase dropped him as a personal banking customer without explanation and that Bank of America also turned him down.

“The banks discriminated against me badly, and I was very good to them,” Trump said, according to CNBC.

The president said he contacted Bank of America to “deposit over $1 billion” and was told the bank couldn’t open an account for him.

“[Bank of America CEO Brian Moynihan] said, ‘We can’t do it,’” Trump said. “So I went to another one, to another one, to another one. I ended up going to small banks all over the place. I mean, I was investing $10 million here, $10 million there.”

Trump also accused the Biden administration, without evidence, of ordering banks and their regulators to destroy him. The president made the accusations in response to a question about a Wall Street Journal report.

The Wall Street Journal reported on August 5 that a draft of Trump's order directs banking regulators to investigate potential violations of the Equal Credit Opportunity Act by financial institutions.

The news outlet said the order threatens to fine or penalize lenders accused of political discrimination. It also requires regulators to refer alleged violations to the Justice Department.

President Trump's commentary on banks carries significant weight in the financial sector because his administration has been preparing a crackdown, in the form of an executive order and other proposed regulatory changes, on so-called practices of gouging customers by denying them banking services.