U.S. President Donald Trump filed a $5 billion β lawsuit against banking giant JPMorgan Chase and its CEO Jamie Dimon on Thursday, accusing the lender of "debanking" him and his businesses by closing accounts for political reasons after he left office in January 2021.
The lawsuit, filed in Miami-Dade County court in Florida, alleges that the nation's βlargest lender abruptly closed multiple accounts in February 2021 with just 60 days notice and no explanation. By doing so, the lawsuit claims JPMorgan and Dimon cut the president and his businesses off from millions of dollars, disrupted their operations and forced Trump and the businesses to urgently open bank accounts elsewhere.
"JPMC debanked (Trump and his businesses) because it believed that the political tide at the moment favored doing so," the lawsuit alleges.
In the lawsuit
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