Donald Trump is taking JPMorgan Chase and its CEO, Jamie Dimon, to court. Trump says the bank stopped doing business with him for political reasons.
Trump claims that after the events at the Capitol on January 6, 2021, JPMorgan Chase unfairly cut ties with him. He says the bank told him in February 2021 that his accounts would be closed within two months.
Trump is asking for $5 billion in damages. He believes the bank’s decision was influenced by “woke” beliefs and a desire to distance itself from his political views.
A lawyer representing Trump, Alejandro Brito, has a history of working on defamation cases for the Trump family.
JPMorgan Chase says it did not close the accounts for political or religious reasons. A spokesperson for the bank stated that accounts are sometimes closed due to legal or regulatory risks.
The bank also said that while they regret Trump’s lawsuit, they believe it has no merit and that they have the right to defend themselves in court.
This legal action comes after Jamie Dimon said that JPMorgan Chase would not help fund Trump’s new White House ballroom, which is expected to cost $400 million.
Dimon explained that the bank has to be careful about how its actions are perceived, especially when it comes to government contracts. He also mentioned that the bank has policies against doing things that could be seen as trying to buy favors.
In the past, Trump falsely claimed that Dimon had supported him. Dimon has also been critical of some of Trump’s policies.
