"President Donald Trump sued banking giant JPMorgan Chase and its CEO Jamie Dimon for $5 billion on Thursday over allegations that JPMorgan stopped providing banking services to him and his businesses for political reasons after he left office in January 2021. 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."
"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."
President Donald Trump filed a $5 billion suit against JPMorgan Chase and CEO Jamie Dimon, alleging politically motivated denial of banking services after he left office in January 2021. The complaint says multiple accounts were abruptly closed in February 2021 with 60 days' notice and no explanation, cutting off millions of dollars and disrupting business operations. The filing alleges JPMorgan placed Trump and his companies on a reputational blacklist used by banks to block future account openings. Trump claims Dimon promised to investigate but failed to follow up. JPMorgan says the suit lacks merit.
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