Shares of JPMorgan Chase and Bank of America declined Tuesday after Trump accused both banks of political discrimination. Speaking on CNBC's "Squawk Box," Trump said JPMorgan gave him 20 days to withdraw “hundreds of millions of dollars in cash.

The Trump administration is expected to take additional efforts to crack down on perceived bias against conservatives in the financial system.

President Donald Trump accused two of the nations’ largest banks of rejecting his business, following a report his administration was preparing an executive order threatening financial institutions who refused to do business on ideological grounds.