"The lawsuit, filed in Miami-Dade County court in Florida, alleges that JPMorgan abruptly closed multiple accounts in February 2021 with just 60 days notice and no explanation. By doing so, Trump claims JPMorgan and Dimon cut the president and his businesses off from millions of dollars, disrupted their operations and forced Trump and the businesses to urgently open bank accounts elsewhere."
""JPMC debanked (Trump and his businesses) because it believed that the political tide at the moment favored doing so," the lawsuit alleges. In the lawsuit, Trump alleges he tried to raise the issue personally with Dimon after the bank started to close his accounts, and that Dimon assured Trump he would figure out what was happening. The lawsuit alleges Dimon failed to follow up with Trump."
"Further, Trump's lawyers allege that JPMorgan placed the president and his companies on a reputational "blacklist" that both JPMorgan and other banks use to keep clients from opening accounts with them in the future. In a statement, JPMorgan said it believes the suit has no merit. Trump threatened to sue JPMorgan Chase last week at a time of heightened tensions between the White House and Wall Street."
Donald Trump sued JPMorgan Chase and CEO Jamie Dimon for $5 billion, alleging the bank stopped providing banking services to him and his businesses for political reasons after he left office in January 2021. The suit filed in Miami-Dade County, Florida alleges JPMorgan abruptly closed multiple accounts in February 2021 with 60 days' notice and no explanation, cutting off millions of dollars and disrupting operations. Trump says he raised the matter with Dimon, who assured him he would investigate but did not follow up. Trump's lawyers say JPMorgan placed him and his companies on a reputational "blacklist." JPMorgan said the suit has no merit.
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