Trump Sues JPMorgan for $5 Billion Over Account Closures
Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase, alleging the bank closed his accounts for political reasons. The bank cites regulatory risks.
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In a significant legal move, President Donald Trump donald trumpfiled a $5 billion lawsuit against JPMorgan Chase & Co. on January 22, 2026, in Florida state court in Miami. The lawsuit alleges that the bank debanked him by closing several accounts in violation of its own policies, without providing warning or remedy. This action comes amidst ongoing scrutiny of banking practices during Trump's second term.
The lawsuit was filed on behalf of Trump and several of his hospitality companies. Trumpclaims that the closures were politically motivated, occurring after the January 6, 2021 Capitol attack. However, JPMorgan maintains that the decision to close the accounts was based on legal and regulatory risk assessments, not political considerations. The bank has explicitly stated that it does not close accounts for political or religious reasons.
