Trump Sues JPMorgan and Jamie Dimon for $5 Billion Over "Debanking" Claims
President Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase and CEO Jamie Dimon, alleging the bank closed his accounts for political reasons. The lawsuit was filed on January 22, 2026.
Lawsuit Details
Allegation: Trump claims the bank "incorrectly and inappropriately" terminated his and his affiliated entities' accounts after the January 6, 2021, Capitol protest, a practice he describes as "political debanking".
Damages Sought: The lawsuit seeks $5 billion in damages, alleging financial and reputational harm, trade libel, and unfair trade practices.
JPMorgan's Response: The bank denies closing accounts for political reasons, stating it does not do so based on political or religious beliefs. A spokesperson stated they support efforts to address political debanking.
This legal action follows previous threats by Trump to sue the bank and a separate lawsuit filed by the Trump Organization against Capital One in 2025 over similar allegations of account closures.
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