President Trump said two American banks once refused to accept him as a customer, making his comment Tuesday as he prepares an executive order that would punish such institutions for discrimination against conservatives. Here’s what you need to know about the banking discrimination allegations:

The JPMorgan Chase rejection

Trump describes being told to move hundreds of millions:

The Bank of America refusal

Second major bank allegedly turned down billion-dollar deposit:

The small bank strategy

Trump forced to spread money across multiple institutions:

The banks’ responses

Financial institutions deny political discrimination:

The Trump family pattern

Other family members report similar financial discrimination:

The executive order preparation

Trump drafting directive to investigate bank discrimination:

The potential penalties

Violators could face serious consequences:

The 2023 precedent

Bank of America faced previous discrimination allegations:

Trump’s theory

President blames Biden administration pressure:

Read more:

• Trump says two banks rejected him over conservative leanings

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