Trump Files Lawsuit Against JPMorgan and CEO Jamie Dimon
World
US President Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase and its CEO Jamie Dimon, accusing the bank of politically motivated account closures and efforts to exclude him from the financial system.
According to the complaint filed in Miami-Dade County, Florida, JPMorgan unilaterally closed several accounts belonging to Trump and his affiliated businesses, including entities linked to the Trump Organization, without prior notice or an opportunity to address the issues.
The lawsuit also alleges that Dimon ordered the creation of a so-called “blacklist” warning other banks against doing business with Trump, his family members, and his companies. Trump claims these actions caused significant reputational damage and were based on “intentional and malicious falsehoods.”
JPMorgan denied the allegations, stating that the bank does not close accounts for political or religious reasons, but does so only when accounts pose legal or regulatory risks. The bank said it considers the lawsuit unfounded and will defend itself.
The White House said it would refer Reuters’ inquiry on the matter to the president’s personal attorney.
The lawsuit comes amid tensions between the Trump administration and major US banks over a proposal to cap credit card interest rates at 10%, a move Dimon previously warned could lead to an “economic catastrophe.”
According to Forbes’ Real-Time Billionaires List, Trump’s net worth as of January 22 is estimated at $6.7 billion.
The lawsuit also alleges that Dimon ordered the creation of a so-called “blacklist” warning other banks against doing business with Trump, his family members, and his companies. Trump claims these actions caused significant reputational damage and were based on “intentional and malicious falsehoods.”
JPMorgan denied the allegations, stating that the bank does not close accounts for political or religious reasons, but does so only when accounts pose legal or regulatory risks. The bank said it considers the lawsuit unfounded and will defend itself.
The White House said it would refer Reuters’ inquiry on the matter to the president’s personal attorney.
The lawsuit comes amid tensions between the Trump administration and major US banks over a proposal to cap credit card interest rates at 10%, a move Dimon previously warned could lead to an “economic catastrophe.”
According to Forbes’ Real-Time Billionaires List, Trump’s net worth as of January 22 is estimated at $6.7 billion.
Powered by Froala Editor