FOX Business' Grady Trimble has the details from the White House on 'Varney & Co.'

U.S. President Donald Trump on Tuesday said he believes that banks discriminate against him and his supporters, adding that Bank of America and JPMorgan Chase had previously refused to accept his deposits.

The White House is preparing to step up pressure against big banks over perceived discrimination against conservatives and crypto companies with an executive order that threatens to fine lenders that drop customers for political reasons.

Big banks said they agree with President Donald Trump that financial regulations need an overhaul, even as their stock prices dropped Tuesday after the president confirmed plans to issue an executive order to punish those that he said discriminate against conservatives.

President Donald Trump accused two of the nation’s largest banks of rejecting his business, as his administration was preparing an executive order threatening financial institutions who refused to work with certain customers on ideological grounds.