Summary
President Donald Trump has filed a lawsuit against JPMorgan Chase and its CEO, Jamie Dimon, for $5 billion. Trump claims that the bank closed his and his businesses' accounts for political reasons shortly after he left office in 2021. The bank denies the allegations, stating accounts were not closed for political reasons.
Key Facts
- President Trump filed a lawsuit against JPMorgan Chase and CEO Jamie Dimon.
- The lawsuit claims JPMorgan closed Trump's accounts in February 2021.
- Trump alleges the closures were politically motivated and affected his businesses.
- The lawsuit was filed in Miami-Dade County court in Florida.
- JPMorgan stated they do not close accounts for political reasons and believe the lawsuit lacks merit.
- A US banking regulator noted past restrictions on controversial industries by large banks.
- Trump argues banks have shown bias against conservatives during his second term.
- Regulators discussed stopping the oversight based on reputational risks.
