Donald Trump filed a lawsuit seeking at least $5 billion in damages against JPMorgan‼️

Donald Trump filed a lawsuit seeking at least $5 billion in damages against JPMorgan‼️

Here’s a clear, up-to-date summary of the lawsuit President Donald Trump filed against JPMorgan Chase & Co. and its CEO Jamie Dimon — based on multiple news reports from today (January 22, 2026): 

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📍 Who’s Suing Whom

Plaintiff: U.S. President Donald Trump and several of his hospitality-related companies.

Defendants: JPMorgan Chase & Co. (the country’s largest bank) and its CEO, Jamie Dimon.

Where: Court filing in Miami-Dade County state court in Florida. 

💰 What the Lawsuit Seeks

Trump is seeking at least $5 billion in damages, claiming financial losses and reputational harm due to how JPMorgan handled his banking relationships. 

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🧾 Core Allegations

The central claim in the lawsuit is that JPMorgan “debanked” Trump — that is, cut off his banking services for political reasons rather than legitimate business or regulatory causes:

Account Closures:

Trump alleges that JPMorgan abruptly closed several of his personal and business accounts in early 2021 (around February), shortly after the January 6, 2021 U.S. Capitol attack, with just 60 days’ notice and no valid explanation. 

Political Motivation:

The complaint states the closures happened because of Trump’s political views and conservative affiliations, and that the bank acted out of “political and social motivations” or what the filing calls the bank’s “unsubstantiated, ‘woke’ beliefs.” 

Blacklisting Claim:

Trump claims that JPMorgan and Dimon effectively put him, his family, and his affiliated companies on a “blacklist” that discouraged other financial institutions from doing business with them, forcing them to open accounts elsewhere under less favorable terms. 

Legal Claims:

Beyond contractual and reputational injury, the suit asserts violations of Florida’s deceptive trade practices and related statutes, arguing the bank’s actions were unfair and unlawful.

Dimon’s Role:

The lawsuit specifically names Jamie Dimon, alleging he authorized or failed to correct the closures and that he personally gave assurances he would investigate but did not follow through. 

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🏦 Bank’s Response

JPMorgan denies the allegations, saying it does not close accounts for political or religious reasons.

The bank says accounts are closed only when they pose legal or regulatory risk, and it plans to defend itself in court. 

📌 Context & Broader Issues

This lawsuit fits into a larger political battle over what Trump and some conservative lawmakers describe as “politically-motivated debanking.”

During his presidency, Trump signed an executive order targeting banks that allegedly refuse services on ideological grounds, and regulators are reviewing such practices. 

CBS News Donald Trump has made similar claims before — including a 2025 lawsuit against Capital One on related grounds.