{"id":112300,"date":"2026-01-23T05:28:00","date_gmt":"2026-01-23T05:28:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=112300"},"modified":"2026-01-23T05:28:00","modified_gmt":"2026-01-23T05:28:00","slug":"trump-sues-jpmorgan-for-5bn-over-account-closure-after-capitol-riot","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=112300","title":{"rendered":"Trump sues JPMorgan for $5bn over account closure after Capitol riot"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>2 Minute, 32 Second <\/div>\n\n <\/div>
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President Donald Trump has filed a $5bn (\u00a33.7bn) lawsuit against America\u2019s biggest bank, JPMorgan Chase, accusing it of illegally closing his accounts for political reasons.<\/p>\n

The lawsuit, which also names the bank\u2019s chief executive, Jamie Dimon, alleges that Trump and his businesses suffered \u201cconsiderable financial and reputational harm\u201d after the bank abruptly closed their accounts in 2021.<\/p>\n

The bank moved to close the accounts after the 6 January 2021 riot when Trump supporters descended on the US Capitol to disrupt the formal ratification of the election results.<\/p>\n

A JPMorgan Chase spokesperson said \u201cthe suit has no merit\u201d.\u201d \u201cJPMC does not close accounts for political or religious reasons.\u201d<\/p>\n

\u201cWe do close accounts because they create legal or regulatory risk for the company,\u201d the bank added in a statement.<\/p>\n

The lawsuit, which Trump said was coming over the weekend, is the latest clash between Trump and Dimon, who has led JPMorgan for two decades.<\/p>\n

In recent weeks, Dimon has also\u00a0spoken out against the administration\u2019s proposal to cap credit cards\u00a0and criticised its immigration policy and posture toward the Federal Reserve.<\/p>\n

The complaint was filed in Florida, which bars banks from discriminating against clients for their political views.<\/p>\n

In the lawsuit, a copy of which was obtained by the BBC\u2019s US news partner CBS, Trump says JPMorgan\u2019s decision to close his accounts was a \u201ckey indicator of a systemic, subversive industry practice that aims to coerce the public to shift and re-align their political views\u201d.<\/p>\n

The filing alleges that the move was driven by \u201cunsubstantiated, \u2018woke\u2019 beliefs that it needed to distance itself from President Trump and his conservative political views\u201d.<\/p>\n

\u201cIn essence, JPMC debanked plaintiffs\u2019 accounts because it believed that the political tide at the moment favoured doing so,\u201d it says.<\/p>\n

Trump also accused the bank of trade libel over its decision to place his name, and that of his businesses, and\/or family, on a \u201cblacklist\u201d \u2013 a roster that was shared with other banks and intended to identify people with a history of \u201cmalfeasant\u201d activity.<\/p>\n

That move was allegedly approved by Dimon himself.<\/p>\n

In the aftermath of the Capitol riot, a number of companies had shunned doing business with the president.<\/p>\n

In its statement on Thursday, JPMorgan said it regretted having to close accounts, but said it was \u201crules and regulatory expectations\u201d that often prompted the decisions.<\/p>\n

\u201cWe have been asking both this administration and prior administrations to change the rules and regulations that put us in this position, and we support the administration\u2019s efforts to prevent the weaponisation of the banking sector,\u201d it said.<\/p>\n

Debanking, or the process of closing accounts, has been a priority issue for Trump, who has publicly taken JPMorgan and other banks to task for the practice and ordered a review of their activities.<\/p>\n

Last month, regulators said they had found nine of the country\u2019s biggest banks made \u201cinappropriate distinctions\u201d among customers based on their business activities, with sectors such as oil and gas, private prisons and adult entertainment facing restricted access.<\/p>\n<\/div>\n

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\"TrumpPresident Donald Trump has filed a $5bn (\u00a33.7bn) lawsuit against America’s biggest bank, JPMorgan Chase, accusing it of illegally closing his accounts for political reasons.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[993,1910,15790,10,9],"tags":[],"class_list":["post-112300","post","type-post","status-publish","format-standard","hentry","category-donald-trump","category-international","category-jpmorgan-chase-co","category-politics","category-popular"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/112300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=112300"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/112300\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=112300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=112300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=112300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}