The $5 Billion Donald Trump JPMorgan Lawsuit: A Fight Over Political Debanking

It's a high-stakes legal battle that pits a president against the titan of Wall Street. Donald Trump has sued banking giant JPMorgan Chase and its CEO Jamie Dimon for $5 billion, alleging the bank "debanked" him and his businesses for purely political reasons after he left office.

Claims in the Donald Trump JPMorgan Lawsuit

The lawsuit, filed on January 22, 2026, in Miami-Dade County, Florida, claims JPMorgan abruptly shut down multiple accounts in February 2021. According to the filing, the bank provided only 60 days' notice without any formal explanation. Trump alleges this move was calculated to align with the political climate of the time, effectively cutting off his enterprises from essential financial infrastructure.

JPMorgan Cites Regulatory and Legal Risks

The bank isn't backing down. In a statement, JPMorgan maintained that the suit has "no merit." A spokesperson clarified that the institution doesn't close accounts based on political or religious affiliations. Instead, they argued that such decisions are made when a client presents significant "legal or regulatory risk" to the firm.

This legal challenge comes as conservative leaders increasingly pressure lenders over what they call "woke" corporate policies. While JPMorgan has previously cooperated with inquiries regarding its debanking procedures, this $5 billion demand escalates the tension between political figures and the global financial system.