Summary
President Donald Trump filed a $5 billion lawsuit against JPMorgan Chase, claiming the bank closed his accounts for political reasons after the January 6, 2021, Capitol riot. Trump alleges that the closure caused financial and reputation damage, and accuses the bank of discrimination based on political views. JPMorgan, led by CEO Jamie Dimon, denies the claims, stating they close accounts due to legal or regulatory risks, not politics.
Key Facts
- President Trump filed a lawsuit against JPMorgan Chase seeking $5 billion.
- The lawsuit claims the bank closed his accounts for political reasons after the Capitol riot.
- JPMorgan Chase CEO Jamie Dimon is also named in the lawsuit.
- Trump says the account closure caused financial and reputational harm.
- A JPMorgan spokesperson stated that the lawsuit "has no merit" and accounts are closed due to legal risks.
- The lawsuit was filed in Florida, which prohibits political discrimination by banks.
- Trump alleges the bank’s actions were based on political bias and involved trade libel.
- JPMorgan denied the charges, citing regulatory expectations for account closure decisions.
