Donald Trump files a $5 billion lawsuit against JPMorgan Chase and its chief executive Jamie Dimon, alleging the bank closed his account for political reasons. The complaint accuses JPMorgan of breaching good-faith and fair-dealing obligations under its client agreement.
According to the filing, JPMorgan gave Trump 20 days to close his account despite a banking relationship that spanned decades. Trump claims the decision reflects political discrimination rather than standard risk management or compliance considerations.
The lawsuit follows Trump’s earlier public statements alleging that major banks discriminated against him. The case raises broader questions about financial institutions’ discretion in client relationships and the intersection of banking policy, reputational risk, and political exposure.