President Trump sues JPMorgan CEO Jamie Dimon for $5 billion on charges of ‘debanking’

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WASHINGTON – President Donald Trump filed a $5 billion lawsuit against JPMorgan Chase & Co. and its CEO Jamie Dimon on Thursday, Jan. 22, alleging the bank removed him as a customer for political reasons after the Jan. 6, 2021, attack on the U.S. Capitol.

The lawsuit, which Trump had been threatening for several days, was filed in state court in Florida after Trump returned from Davos, Switzerland, where he attended the World Economic Forum.

“Plaintiffs believe that JPMC’s unilateral decision resulted from political and social motives and JPMC’s unfounded ‘woke’ belief that it needed to distance itself from President Trump and his conservative political views,” the complaint says. “Essentially, JPMC debanked Plaintiff’s account because it believed current political trends favored doing so.”

JPMorgan responded to the lawsuit with a statement.

“While we regret that President Trump has sued our company, we believe this lawsuit is without merit. We respect the president’s right to sue our company and his right to defend himself,” JPMorgan said in a statement.

X Contact Joey Garrison at @joeygarrison.

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