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BUSINESS / Companies

Trump sues JPMorgan Chase and its CEO for $5 billion over alleged debanking

U.S. President Donald Trump has accused JPMorgan of violating its principles unilaterally by shutting accounts belonging to him and his hospitality companies.

U.S. President Donald Trump has accused JPMorgan of violating its principles unilaterally by shutting accounts belonging to him and his hospitality companies. | AFP-JIJI

By Manya Saini and Jonathan Stempel
REUTERS

Jan 23, 2026

U.S. President Donald Trump filed a $5 billion lawsuit against JPMorgan Chase and its CEO Jamie Dimon on Thursday, accusing them of debanking him by closing several of his accounts to further a political agenda.

The lawsuit, filed in a Florida state court in Miami-Dade County, accused the largest U.S. bank of violating its own policies by singling out Trump to ride the “political tide.”

JPMorgan denied that it closes accounts for political or religious reasons.

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