JPMorgan Says Trump ‘Fraudulently’ Named CEO Jamie Dimon in $5B Lawsuit
Donald Trump filed a $5 billion lawsuit in Florida state court against JPMorgan Chase and its CEO Jamie Dimon, alleging the bank unlawfully closed his personal and business accounts — a move he claims was politically motivated after the Jan. 6 2021 Capitol attack. Trump’s complaint asserts causes including trade libel, breach of good-faith obligations and violations of Florida’s deceptive trade practices law. JPMorgan strongly disputes the claims and has vowed to defend itself in court.
In a new response, JPMorgan said the lawsuit “fraudulently” included Dimon as a named defendant, accusing Trump of manipulating the filing to try to shift the case into Florida state court and create broader legal pressure on the bank’s leadership — a tactic the bank called improper and meritless. The bank emphasised that account closures occur for legal or regulatory risk reasons, not political bias, and said it plans to challenge both the substance and the naming strategy.
The case highlights escalating legal tensions between the president and major financial institutions over the politically charged issue of “debanking” — where customers claim they’ve been unfairly cut off from banking services — and could have broader implications for bank liability standards and political influence in civil litigation.