President Trump’s lawsuit against JPMorgan Chase kicked off a high-stakes battle between two of the financial world’s most powerful figures. The president is suing the largest U.S. bank and its leader, Jamie Dimon, over its decision to cut ties with Trump after the Jan. 6, 2021, Capitol riot. Legal experts say Trump’s claims of political… Source link
President Donald Trump sued JPMorgan Chase and its CEO, Jamie Dimon, on Thursday for closing accounts belonging to Trump and related entities in early 2021, in what the lawsuit calls political actions. The closures came on the heels of the Jan. 6, 2021, riot by Trump supporters at the U.S. Capitol, and Trump exiting the White House later that same month after his electoral loss to former President Joe Biden was confirmed. “He debanked me,” Trump told reporters in Switzerland, when asked about Dimon on Wednesday, hours after his lawsuit was filed in Florida state court in Miami-Dade County. “He shouldn’t be debanking,” Trump said. “It’s so wrong.” “Jamie Dimon is not allowed to do what he did.” JPMorgan on Thursday denied that it closed Trump’s accounts for political reasons and suggested that the closures were due to federal rules and regulations that the bank has been seeking to change during this and prior presidential administrations. Trump and the other plaintiffs in the case, which are business entities related to the president, are seeking at …
Jamie Dimon, Chairman and CEO, JPMorganChase, speaks during the Reagan National Defense Forum at the Ronald Reagan Presidential Library in Simi Valley, California, U.S. December 6, 2025. Jonathan Alcorn | Reuters President Donald Trump on Saturday threatened to sue JPMorgan Chase over allegedly “debanking” him following the Jan. 6, 2021, riot at the U.S. Capitol. “I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest, a protest that turned out to be correct for those doing the protesting,” Trump said in a social media post. “The Election was RIGGED!” JPMorgan and the White House didn’t immediately respond to CNBC’s request for comment. In August, Trump signed an executive order requiring banks to ensure they are not refusing financial services to clients based on religious or political beliefs, a practice known as “debanking.” Trump claimed in a CNBC interview in August, without providing evidence, that he was personally discriminated against by banks. He said JPMorgan Chase and Bank of America refused to take his deposits following his first term in …
An estimated 453,230 accounts were shut down in the United Kingdom in the last year, a stunning figure that has drawn outrage from the country’s leading conservative lawmaker. Nigel Farage Reform UK leader Nigel Farage called the shocking figure “appalling” and slammed European rules that he believes “makes it cheaper for banks to close accounts over unusual transactions.” Farage, who was elected to the British Parliament in 2024 and leads the conservative populist Reform Party, is no stranger to debanking, having had his accounts closed by Coutts in 2023. So what’s the banks’ excuse? “Financial crime reasons,” they said, according to documents obtained by The Telegraph under Freedom of Information rules. The Telegraph reports: It comes ahead of the introduction of new rules which will force lenders to give customers longer before they close accounts – at least 90 days’ notice – as well as offer clearer explanations of why they shut the accounts. But the requirements will only apply to accounts opened after April 28 this year and will be subject to exemptions to …
