Overview
- Trump’s complaint, filed in Miami-Dade County, says JPMorgan shut several Trump business accounts in April 2021 and circulated a damaging blacklist that constitutes trade libel.
- The filing alleges violations of Florida’s Unfair and Deceptive Trade Practices Act and breach of the implied covenant of good faith and fair dealing, alongside the trade‑libel claim.
- JPMorgan denies wrongdoing and says it does not close accounts based on beliefs, asserting that account terminations reflect legal or regulatory risk assessments.
- Legal analysts say Trump must prove political motive and measurable harm, noting that banking contracts give lenders broad discretion and that trade‑libel claims require false, disparaging statements.
- Next steps are expected to include a bid to move the case to federal court and motions to dismiss, with discovery possible only if the lawsuit survives those challenges.