Trump Sues JPMorgan Over Alleged Debanking
Trump sues JPMorgan alleging political debanking and seeking $5 billion, a filing that raises legal and reputational risk for investors and creditors.
KEY TAKEAWAYS
- Trump filed a $5 billion Miami-Dade complaint alleging political debanking by JPMorgan.
- JPMorgan said closures reflected legal and regulatory risk and called the suit without merit.
- The filing raises legal and reputational exposure that could matter to investors and creditors.
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Donald J. Trump filed a state-court complaint in Miami-Dade County, Florida, on January 22, 2026, accusing JPMorgan Chase and CEO Jamie Dimon of closing his accounts after the January 6 Capitol attack. The suit seeks $5 billion in damages and alleges the bank’s actions were politically motivated, while JPMorgan says the closures responded to legal and regulatory risks.
Trump Files Suit Alleging Politically Motivated Account Closures
The complaint, filed by attorney Alejandro Brito on behalf of Trump and several hospitality companies, names JPMorgan Chase and Dimon as defendants. It demands a jury trial and claims the bank terminated multiple Trump-controlled accounts in early 2021 for political reasons following the Capitol attack. The suit includes allegations of trade libel, violation of the Florida Deceptive and Unfair Trade Practices Act (FDUTPA), declaratory relief, and breach of the implied covenant of good faith and fair dealing. It accuses JPMorgan of “debanking” Trump and affiliated entities by placing them on an industry blacklist despite their asserted good standing.
In the days before filing, Trump signaled legal action on his social platform, foreshadowing the complaint’s public release.
JPMorgan Denies Political Motive, Cites Legal and Regulatory Risk
The complaint states JPMorgan notified Trump-controlled accounts on February 19, 2021, that multiple accounts would close with 60 days’ notice, effective April 19, 2021. This timeline anchors the dispute to decisions made shortly after the January 6 events.
Trump and his affiliated entities have maintained a decades-long banking relationship with JPMorgan, transacting hundreds of millions of dollars through the bank. JPMorgan denies the closures were politically or religiously motivated, saying it closes accounts that pose legal or regulatory risks. The bank characterizes the suit as without merit.
This filing follows earlier litigation by related parties over account closures in 2021. In 2025, the Trump Organization and Eric Trump pursued a separate suit tied to similar banking decisions from that period.
The complaint raises potential legal and reputational risks for JPMorgan, which could be material to investors and creditors given the prominence of the parties and the size of the damages claim.
