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Trump Sues JPMorgan Chase for $5 Billion Over Account Closures

Published January 22, 2026, 19:13
Trump Sues JPMorgan Chase for $5 Billion Over Account Closures

Former US President Donald Trump has filed a lawsuit against JPMorgan Chase, alleging that the bank illegally closed his and his companies' accounts for political reasons. Trump is seeking $5 billion in damages, accusing the bank's CEO, Jamie Dimon, along with the bank itself. JPMorgan Chase responds that the account closures were due to legal and regulatory risks, not political motives. Trump's lawyer argues that the bank acted unilaterally and without warning. The bank states it will defend its position in court and that it does not close accounts for political or religious reasons, but due to compliance with regulations.