Thu, 22 Jan 2026

Thu, 22 Jan 2026 Trump sues JPMorgan for $5bn over account closure after Capitol riot

JPMorgan Chase said the lawsuit has "no merit" and the bank "does not close accounts for political or religious reasons".
US President Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase, accusing the bank of closing his accounts due to political reasons. The suit alleges that Trump and his businesses suffered financial and reputational harm after the bank shut down their accounts following the January 6, 2021 Capitol riot. According to the complaint, Trump's account was closed because of "unsubstantiated, 'woke' beliefs" that the bank needed to distance itself from him due to his conservative views. The lawsuit also claims that JPMorgan Chase placed Trump and his businesses on a "blacklist" of individuals with a history of malfeasance. JPMorgan Chase has denied the allegations, stating that they close accounts when there is a risk or regulatory issue, not for political reasons. The bank added that it was acting in accordance with rules and regulations set by previous administrations. This lawsuit marks the latest development in a long-standing feud between Trump and JPMorgan Chase CEO Jamie Dimon. In recent weeks, Dimon has publicly criticized Trump's administration on several issues, including credit card caps and immigration policy.
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