The White House was preparing to act against banks for allegedly dropping customers for political reasons, as President Donald Trump said he believes that banks, including JPMorgan and Bank of America ,

President Trump said two major banks turned down his business. Here's why conservatives are concerned with so-called debanking.

In a CNBC interview Tuesday, Trump expounded on his own experiences with banks after his first term, saying he was denied accounts by JPMorgan Chase and Bank of America and had to go from bank to bank trying to open accounts.