Former US President Donald Trump has launched a major legal battle against JPMorgan Chase and its chief executive Jamie Dimon, filing a lawsuit that seeks no less than $5 billion in damages. The case centers on claims that the banking giant unfairly cut ties with Trump-related accounts, causing significant financial losses and damage to his business reputation. The lawsuit adds another high-profile chapter to the long-running tension between Trump and major US financial institutions.
Trump Accuses JPMorgan of Unlawful Account Closures
According to the lawsuit, Trump argues that JPMorgan Chase wrongfully terminated banking services connected to him and his businesses. He claims the decision was politically motivated and not based on legitimate financial or compliance concerns. The filing states that the bank’s actions disrupted normal business operations, limited access to financial services, and created long-term economic harm.
Claims Target CEO Jamie Dimon Personally
In addition to naming JPMorgan Chase as a defendant, the lawsuit also targets CEO Jamie Dimon. Trump alleges that Dimon played a direct role in shaping or approving policies that led to the account closures. The complaint argues that senior leadership failed to act fairly and instead allowed bias to influence corporate decisions.
Legal and Financial Impact Could Be Significant
If the case moves forward, legal experts say it could raise broader questions about the power of large banks to deny services to clients based on internal risk assessments or public controversy. JPMorgan Chase has not admitted wrongdoing, and the lawsuit is expected to face strong legal resistance. The outcome could have implications for both corporate banking practices and politically exposed individuals.
