Trump files $5bn lawsuit against JPMorgan over account closure
Donald Trump has taken legal action against JPMorgan Chase and its CEO, Jamie Dimon, after the bank allegedly terminated his accounts. The lawsuit claims the closures were due to political discrimination against Trump and his businesses. JPMorgan denies closing accounts for political reasons, stating it acts based on legal or regulatory risks. The bank expressed regret over the lawsuit but maintains its actions were justified.
TLDR
- Donald Trump sued JPMorgan Chase and Jamie Dimon for allegedly dropping him as a client in 2021.
- The lawsuit was filed by Alejandro Brito in a Florida state court on behalf of Trump and his hospitality companies.
- The bank notified Trump in February 2021 about closing his accounts, giving 60 days’ notice.
- The lawsuit claims the closures were politically motivated, which JPMorgan denies.
- JPMorgan stated it closes accounts due to legal or regulatory risks, not political or religious reasons.
