Washington DC - President Donald Trump is reportedly planning to sign an executive order aimed at punishing big banks for allegedly discriminating against conservatives.

According to The Wall Street Journal, a draft of the order directs regulators to investigate accusations that certain banks intentionally blocked individuals and organizations from opening accounts due to their political affiliations.

Regulators are to look into whether the banks in question violated the Equal Credit Opportunity Act or any other consumer finance laws, and heavily fine offenders.

During an interview with CNBC on Tuesday, Trump confirmed the reporting, claiming large banks had "discriminated against me – and many conservatives," but could only give personal examples.

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Trump claimed that after he left the White House from his first term, JPMorgan Chase ordered him to close his accounts with them within 20 days, and Bank of America's CEO, who was "kissing my ass" during his presidency, refused to accept a $1 billion deposit from him.

He went on to say that he "believes" his predecessor Joe Biden told regulators, "'Do everything you can to destroy Trump,' and that's what they did."

In a statement to Bloomberg, JPMorgan Chase insisted they "don’t close accounts for political reasons," but said they would work with Trump in "addressing this issue."

Bank of America declined to comment on Trump's claims, but similarly said they "welcome" Trump's effort to "provide regulatory clarity to banks."