Yesterday, President Donald Trump announced he is suing JPMorgan Chase & Co., along with CEO Jamie Dimon, for alleged political debanking. Following this announcement, Cato Institute scholar Nicholas Anthony released the following statement:

“President Trump is unlikely to be successful in his effort to attack JPMorgan Chase over claims of political debanking. When you point a finger, three more are pointed back at you. In this case, those fingers are pointing at Congress, regulators, and the president himself. Congress set the laws that have made banks overly sensitive to legal risks, regulators set the laws that have made banks overly sensitive to social risks, and President Trump himself has made banking his political enemies illegal by designating Antifa as a terrorist organization. These factors are the real cause of debanking, not phantoms of political or religious discrimination. The problem of debanking can be fixed, but it won’t happen in the courtroom.”

To speak with Anthony further on the recent lawsuit, contact Christopher Tarvardian.