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Gate ELSA Futures Trading Challenge is Now Live!
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Trump files $5 billion lawsuit against JPMorgan over 2021 debanking
Source: CryptoNewsNet Original Title: Trump files $5 billion lawsuit against JPMorgan over 2021 debanking Original Link: U.S. President Donald Trump filed a $5 billion lawsuit against JPMorgan on Thursday alleging the global bank of debanking him and some of his companies in 2021 without merit.
The lawsuit, filed in Miami-Dade County in Florida, alleges that the bank engaged in trade libel, breached good faith and fair dealing provisions and that CEO Jamie Dimon “violated Florida’s deceptive trade practices law.”
Trump said he’d sue JPMorgan over the past weekend, citing the 2021 debanking.
In a statement, a spokesperson for JPMorgan said, “While we regret President Trump has sued us, we believe the suit has no merit. We respect the President’s right to sue us and our right to defend ourselves - that’s what courts are for.”
“JPMorgan does not close accounts for political or religious reasons. We do close accounts because they create legal or regulatory risk for the company. We regret having to do so but often rules and regulatory expectations lead us to do so. We have been asking both this Administration and prior administrations to change the rules and regulations that put us in this position, and we support the Administration’s efforts to prevent the weaponization of the banking sector,” the statement continued.