Overview
- The lawsuit names JPMorgan Chase and CEO Jamie Dimon, seeking $5 billion in damages and a jury trial in Florida state court.
- Trump’s filing says JPMorgan notified him on Feb. 19, 2021 that multiple accounts would be terminated by April 19, giving no explanation or recourse.
- The complaint alleges the bank placed Trump, his family and affiliated entities on an internal “blacklist” circulated to other banks, causing operational and reputational harm.
- Claims include trade libel, violations of Florida’s unfair and deceptive trade practices law, and breach of the implied covenant of good faith and fair dealing.
- JPMorgan says the suit has no merit and that it closes accounts only when they pose legal or regulatory risk, as regulators review industry “debanking” practices and after Dimon’s recent public criticism of some Trump policies.