Donald Trump has filed a major lawsuit against JPMorgan Chase. The US President recently accused the nation’s largest bank of politically motivated “de-banking.”
Donald Trump files $5 billion lawsuit against JPMorgan Chase
Donald Trump sued JPMorgan Chase and its CEO Jamie Dimon on Thursday for $5 billion, accusing the bank of “de-banking” him. He alleged that the largest U.S. bank had closed his accounts following the Capitol attack on January 6, 2021.
Trump’s personal lawyer, Alejandro Brito, who worked with him on his defamation lawsuit against ABC News and the BBC, filed the lawsuit in Miami. Trump’s legal team claimed that JPMorgan Chase had put the President, his associates, and some family members on a blacklist.
The lawsuit alleged that JP Morgan “did not provide plaintiffs with any recourse, remedy or alternative – its decision was final and unequivocal.” It claims that Trump is “confident that JPMC’s unilateral decision came about as a result of political and social motivations, and JPMC’s unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political reviews.”
JPMorgan Chase spokesperson Trish Wexler said in this regard, “While we regret that President Trump has sued us, we believe the suit has no merit. We respect the President’s right to sue us and our right to defend ourselves — that’s what courts are for.”
Wexler continued that the bank “does not close accounts for political or religious reasons.” She added, “We do close accounts because they create legal or regulatory risk for the company. We regret having to do so, but often rules and regulatory expectations lead us to do so.”
The lawsuit comes just a week after Trump had threatened to sue JPMorgan Chase on social media. The President wrote that he will file a lawsuit against the bank “over the next two weeks.”
Originally reported by Namrata Ghosh for Mandatory.
