Trump sues JPMorgan in Florida court for $5B over debanking claims: Report

The lawsuit was filed days after the president threatened on social media to sue the banking giant for debanking him weeks after his supporters attacked the US Capitol in 2021.

US President Donald Trump has filed a lawsuit in Florida state court against JPMorgan, claiming that the banking giant terminated accounts connected to the president and his businesses “without warning or provocation.”

According to a Thursday Bloomberg report, Trump filed a complaint in the Miami-Dade County state court, seeking $5 billion in damages from JPMorgan and its CEO, Jamie Dimon. The complaint was not available on the court’s public docket at the time of publication.

The lawsuit accused JPMorgan of trade libel and breach of implied covenant of good faith, and Dimon of violating Florida’s deceptive trade practices law. A spokesperson for the bank said the lawsuit had no merit and JPMorgan “does not close accounts for political or religious reasons.”

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