Trump sues JPMorgan for $5 billion, alleges bank closed his accounts for political reasons

President Donald Trump sued banking giant JPMorgan Chase and its CEO Jamie Dimon for $5 billion, accusing JPMorgan of debanking 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.