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Trump Sues JPMorgan Chase for $5 Billion, Alleging Political Discrimination

Published January 22, 2026, 21:06
Trump Sues JPMorgan Chase for $5 Billion, Alleging Political Discrimination

Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase, accusing the bank of closing his accounts for political reasons following the January 6th events. Trump claims the bank violated its own code of ethics by singling him out due to his political beliefs. The lawsuit also names the bank's CEO, Jamie Dimon. JPMorgan responded stating the lawsuit is without merit and that while they respect Trump's right to pursue legal action, they will defend themselves. The bank maintains it does not close accounts for political or religious reasons, but rather due to legal or regulatory risks. This move comes amid increasing political pressure on banks, particularly from conservatives who accuse them of adopting a "woke agenda" and discriminating against certain sectors. Trump has previously claimed that banks refused to serve him due to his political views. Despite the lawsuit, JPMorgan's stock was up, indicating that the market is not overly concerned about the allegations. The lawsuit was filed in Miami court by Trump's lawyers, on behalf of himself and his companies.