By doing so, Trump 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. Advertisement“JPMC debanked (Trump and his businesses) because it believed that the political tide at the moment favored doing so,” the lawsuit alleges. Trump threatened to sue JPMorgan Chase last week at a time of heightened tensions between the White House and Wall Street. Trump accuses the bank of trade libel and accuses Dimon himself of violating Florida’s Unfair and Deceptive Trade Practices Act. In its statement, JPMorgan said that it “regrets” that Trump sued the bank but insisted it did not close the accounts for political reasons.

Source: Huffington Post January 23, 2026 03:15 UTC