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United States/Economy/Trump sues JPMorgan for $5 billion, alleging bank closed his accounts for political reasons
Trump sues JPMorgan for $5 billion, alleging bank closed his accounts for political reasons
Jan 23, 202625 sources
person:trumpperson:dimonorg:jpmorganorg:appletopic:credit card rate cap
Story Timeline
Jan 23, 2026Trump sues JPMorgan for $5 billion, alleging bank closed his accounts for political reasons25 sources
Jan 30, 2026Apple reports record iPhone sales and faces AI challenges as Trump sues JPMorgan Chase18 sources
Feb 22, 2026JPMorgan says it closed Donald Trump's bank accounts after January 6 Capitol attack2 sources
Summary
President Donald Trump has filed a lawsuit against JPMorgan Chase and its CEO, Jamie Dimon, seeking $5 billion in damages. He alleges the bank closed his personal and business accounts after the January 6 Capitol riot for political reasons, a practice he calls 'debanking.'
Separately, JPMorgan executives have warned that a proposed cap on credit card interest rates, which Trump has supported, could harm consumers and the economy. The bank also reported quarterly profits that beat expectations due to strong trading, but took a financial hit related to its Apple Card partnership.