U.S. President Donald Trump speaks prior to a bilateral meeting with Switzerland's Federal President Guy Parmelin, Switzerland's Economy Minister Federal councillor Karin Keller-Sutter and Switzerland's Foreign Minister Federal councillor Ignazio Cassis, in Congress Centre, on the sideline of the 56th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Wednesday, January 21, 2026. Laurent Gillieron/Pool via REUTERS
(Washington, DC) – Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase and CEO Jamie Dimon, accusing the bank of closing his personal and business accounts for political reasons.
The suit, filed in Miami-Dade County Circuit Court, alleges JPMorgan terminated accounts tied to Trump and entities like DJT Operations I LLC in April 2021 despite decades of good standing and millions in transactions. Trump claims the closures were meant to distance the bank from his conservative views, violating Florida trade laws and the bank’s own ethics standards.
JPMorgan called the case meritless, saying account decisions are based on legal and regulatory risk, not politics, while adding it supports efforts to prevent the “weaponization” of banking. The lawsuit adds fuel to the broader debate over alleged “debanking” of conservatives.
