Trump Files $5 Billion Lawsuit Against JPMorgan Chase and CEO Jamie Dimon Over Alleged Political Debanking
President Donald Trump joins Maria Bartiromo to discuss ongoing negotiations that would give the U.S. total access to Greenland, citing national and global security concerns.
FIRST ON FOX: President Donald Trump is suing JPMorgan Chase and its CEO Jamie Dimon in a $5 billion lawsuit filed Thursday, accusing the financial institution of debanking him for political reasons.
The lawsuit, filed by Trump’s attorney Alejandro Brito in Florida state court in Miami, claims that the bank’s actions were politically motivated. Brito references JPMorgan’s code of conduct, which emphasizes integrity and ethical behavior.
The JPMorgan Chase & Co. headquarters in Park Avenue, Midtown, Manhattan, New York. (Tim Clayton/Corbis via Getty Images / Getty Images)
TRUMP SAYS HE WILL SUE JPMORGAN CHASE OVER ‘INCORRECT’ POST-JAN 6 DEBANKING
“We set high expectations and hold ourselves accountable. We do the right thing—not necessarily the easy or expedient thing. We abide by the letter and spirit of the laws and regulations everywhere we do business and have zero tolerance for unethical behavior,” the lawsuit states, citing the bank’s code of conduct.
The lawsuit claims that JPMorgan Chase violated its own principles by terminating several of Trump’s bank accounts without warning or remedy. Trump had been a customer for decades, conducting hundreds of millions of dollars in transactions through the bank.
According to the lawsuit, the relationship between Trump and JPMorgan changed dramatically on February 19, 2021, when the bank allegedly notified Trump that several accounts would be closed just two months later, on April 19, 2021.
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during the America Business Forum in Miami, Nov. 6, 2025. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images)
The lawsuit further claims that JPMorgan Chase provided no recourse or alternative options, asserting that the decision was final. Trump’s attorney believes that the bank’s actions were influenced by political motivations, suggesting that JPMorgan sought to distance itself from Trump and his conservative views.
“In essence, JPMC debunked plaintiff’s accounts because it believed that the political tide at the moment favored doing so,” the lawsuit states. It also highlights a growing trend among financial institutions to cut off banking services based on political beliefs.
President Donald Trump had been a customer of JPMorgan for decades, according to the lawsuit. (Krisztian Bocsi/Bloomberg via Getty Images; Angela Weiss/AFP via Getty Images)
Trump’s attorney alleges that JPMorgan’s actions reflect a broader industry trend aimed at coercing individuals to align their political views with those of financial institutions. The lawsuit also claims that JPMorgan and Dimon have unlawfully placed Trump and his affiliated entities on a blacklist accessible to federally regulated banks.
This alleged blacklist includes individuals and entities deemed noncompliant with banking regulations. Trump’s lawsuit argues that this action is a malicious falsehood, as he has always complied with relevant banking laws.
Trump is pursuing claims of trade libel, violations of Florida’s unfair trade practices act, and breach of the implied covenant of good faith and fair dealing. His team is demanding a jury trial.
President Donald Trump’s team is demanding a jury trial. (Getty Images)
Trump hinted at the lawsuit in a recent Truth Social post, stating, “I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest, a protest that turned out to be correct for those doing the protesting.” He has claimed that JPMorgan set a deadline for him to move his funds after the January 6 incident.
In a previous statement, JPMorgan Chase spokesperson Trish Wexler emphasized that no one’s account should be closed due to political beliefs, supporting efforts to address political debanking. Jamie Dimon has denied that the bank debanks customers based on political affiliations, attributing issues to regulatory burdens instead.
Bank of America CEO Brian Moynihan echoed similar sentiments, stating that they serve a diverse customer base and do not close accounts for political reasons.
In 2025, the Trump Organization sued Capital One after it allegedly “unjustifiably” terminated more than 300 of the company’s bank accounts and accounts belonging to numerous Trump family members in 2021. (Leonardo Munoz/VIEWpress / Getty Images)
In 2025, the Trump Organization also filed a lawsuit against Capital One for allegedly terminating over 300 accounts without justification. This pattern of debanking has raised concerns about the implications for individuals with differing political views.
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On March 8, 2021, Capital One reportedly notified Trump that numerous accounts would be closed without providing any alternatives. The accounts held significant funds belonging to Trump and his affiliated entities. At the time, a Capital One spokesperson stated that the bank does not close accounts for political reasons.
President Donald Trump joins Maria Bartiromo to discuss ongoing negotiations that would give the U.S. total access to Greenland, citing national and global security concerns.
FIRST ON FOX: President Donald Trump is suing JPMorgan Chase and its CEO Jamie Dimon in a $5 billion lawsuit filed Thursday, accusing the financial institution of debanking him for political reasons.
The lawsuit, filed by Trump’s attorney Alejandro Brito in Florida state court in Miami, claims that the bank’s actions were politically motivated. Brito references JPMorgan’s code of conduct, which emphasizes integrity and ethical behavior.
The JPMorgan Chase & Co. headquarters in Park Avenue, Midtown, Manhattan, New York. (Tim Clayton/Corbis via Getty Images / Getty Images)
TRUMP SAYS HE WILL SUE JPMORGAN CHASE OVER ‘INCORRECT’ POST-JAN 6 DEBANKING
“We set high expectations and hold ourselves accountable. We do the right thing—not necessarily the easy or expedient thing. We abide by the letter and spirit of the laws and regulations everywhere we do business and have zero tolerance for unethical behavior,” the lawsuit states, citing the bank’s code of conduct.
The lawsuit claims that JPMorgan Chase violated its own principles by terminating several of Trump’s bank accounts without warning or remedy. Trump had been a customer for decades, conducting hundreds of millions of dollars in transactions through the bank.
According to the lawsuit, the relationship between Trump and JPMorgan changed dramatically on February 19, 2021, when the bank allegedly notified Trump that several accounts would be closed just two months later, on April 19, 2021.
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during the America Business Forum in Miami, Nov. 6, 2025. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images)
The lawsuit further claims that JPMorgan Chase provided no recourse or alternative options, asserting that the decision was final. Trump’s attorney believes that the bank’s actions were influenced by political motivations, suggesting that JPMorgan sought to distance itself from Trump and his conservative views.
“In essence, JPMC debunked plaintiff’s accounts because it believed that the political tide at the moment favored doing so,” the lawsuit states. It also highlights a growing trend among financial institutions to cut off banking services based on political beliefs.
President Donald Trump had been a customer of JPMorgan for decades, according to the lawsuit. (Krisztian Bocsi/Bloomberg via Getty Images; Angela Weiss/AFP via Getty Images)
Trump’s attorney alleges that JPMorgan’s actions reflect a broader industry trend aimed at coercing individuals to align their political views with those of financial institutions. The lawsuit also claims that JPMorgan and Dimon have unlawfully placed Trump and his affiliated entities on a blacklist accessible to federally regulated banks.
This alleged blacklist includes individuals and entities deemed noncompliant with banking regulations. Trump’s lawsuit argues that this action is a malicious falsehood, as he has always complied with relevant banking laws.
Trump is pursuing claims of trade libel, violations of Florida’s unfair trade practices act, and breach of the implied covenant of good faith and fair dealing. His team is demanding a jury trial.
President Donald Trump’s team is demanding a jury trial. (Getty Images)
Trump hinted at the lawsuit in a recent Truth Social post, stating, “I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest, a protest that turned out to be correct for those doing the protesting.” He has claimed that JPMorgan set a deadline for him to move his funds after the January 6 incident.
In a previous statement, JPMorgan Chase spokesperson Trish Wexler emphasized that no one’s account should be closed due to political beliefs, supporting efforts to address political debanking. Jamie Dimon has denied that the bank debanks customers based on political affiliations, attributing issues to regulatory burdens instead.
Bank of America CEO Brian Moynihan echoed similar sentiments, stating that they serve a diverse customer base and do not close accounts for political reasons.
In 2025, the Trump Organization sued Capital One after it allegedly “unjustifiably” terminated more than 300 of the company’s bank accounts and accounts belonging to numerous Trump family members in 2021. (Leonardo Munoz/VIEWpress / Getty Images)
In 2025, the Trump Organization also filed a lawsuit against Capital One for allegedly terminating over 300 accounts without justification. This pattern of debanking has raised concerns about the implications for individuals with differing political views.
CLICK HERE TO READ MORE ON FOX BUSINESS
On March 8, 2021, Capital One reportedly notified Trump that numerous accounts would be closed without providing any alternatives. The accounts held significant funds belonging to Trump and his affiliated entities. At the time, a Capital One spokesperson stated that the bank does not close accounts for political reasons.
