Trump sues JPMorgan Chase and CEO Jamie Dimon for $5b over alleged 'political' debanking

President Trump is suing JPMorgan Chase for $5 billion, claiming wrongful debanking for political reasons. The lawsuit, filed in Florida on behalf of Trump and his hospitality companies, alleges that JPMorgan violated its own code of conduct by abruptly closing several of Trump's accounts in 2021, without notice or alternative options.

Trump's attorney argues this action stemmed from "political and social motivations," asserting it reflects a trend of financial institutions severing ties with those holding conservative views.

The suit demands a jury trial and highlights an alleged blacklist of conservative clients shared among banks. JPMorgan has denied political bias in account closures, emphasizing they do not debank customers based on political affiliations.