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Donald Trump Sues JPMorgan Chase and Jamie Dimon for Five Billion Dollars Over Account Closures

President Donald Trump filed a lawsuit against JPMorgan Chase and CEO Jamie Dimon on January 24. He alleges the bank closed his accounts for political reasons.

Insights:
On January 24, 2026, President donald trump filed a $5 billion lawsuit in a Miami-Dade County state court against JPMorgan Chase & Co. and its chief executive, jamie dimon. The litigation alleges that the bank closed business accounts belonging to donald trump in April 2021 based on political discrimination rather than legitimate business grounds. JPMorgan Chase & Co.notified donald trump of the closures approximately one month after the January 6, 2021 Capitol building incident, terminating a banking relationship that had been active for several decades.
People walk in front of the JPMorgan Chase & Co. building before the ribbon-cutting ceremony at the firm's new headquarters at 270 Park Avenue in New York City, U.S., October 21, 2025. REUTERS/Eduardo Munoz
People walk in front of the JPMorgan Chase & Co. building before the ribbon-cutting ceremony at the firm's new headquarters at 270 Park Avenue in New York City, U.S., October 21, 2025. REUTERS/Eduardo Munoz
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