Political “debanking” during the Capitol riots in 2021 is alleged in the case. Figures like Marine Le Pen and Nigel Farage have been involved in similar controversies, although banks deny accusations of bias.
On Thursday, President Donald Trump filed a $5 billion (€4.26 billion) lawsuit against banking behemoth JPMorgan Chase and its CEO Jamie Dimon over claims that JPMorgan stopped offering banking services to him and his companies for political reasons after he left office in January 2021.
JPMorgan allegedly unexpectedly canceled several accounts in February 2021 with only sixty days’ notice and no explanation, according to the lawsuit, which was filed in Miami-Dade County court in Florida.
In the lawsuit, Trump alleges that after the bank began to close his accounts, he attempted to personally bring up the matter with Dimon, who promised to investigate. Then, according to the lawsuit, Dimon neglected to follow up with Trump.
Additionally, according to Trump’s attorneys, JPMorgan put the president and his businesses on a reputational “blacklist” that is used by JPMorgan and other banks to prevent customers from opening accounts with them going forward. A bank representative stated, “JPMC does not close accounts for political or religious reasons.” “We close accounts because they put the company at risk for legal or regulatory issues.
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