Trump sues JPMorgan for $5 billion, alleges bank closed his accounts for political reasons
January 22, 2026
President Donald Trump is suing JPMorgan Chase and its CEO Jamie Dimon for $5 billion. He alleges the bank closed his accounts for political reasons after he left office in January 2021. The lawsuit, filed in Miami-Dade County court, claims JPMorgan abruptly closed multiple accounts in February 2021, giving 60 days’ notice without explanation. Trump says this cut him off from millions and disrupted his businesses. JPMorgan, in a statement, expressed regret over the lawsuit but denied political motives. A spokesperson said the suit lacks merit, emphasizing accounts are closed for legal or regulatory risks, not political reasons.