U.S. President Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase and its CEO, Jamie Dimon, accusing them of denying him banking services for political reasons by closing several of his and his companies’ accounts.
The lawsuit was filed in a state court in Florida, Miami-Dade County. In it, Trump claims that the largest U.S. bank violated its own policies by targeting him to take advantage of what he calls a “political wave.”
However, JPMorgan has denied that the account closures had any political or religious motivation.
“While we regret that President Trump has filed a lawsuit against us, we believe the lawsuit has no merit,” the bank said. “We respect the president’s right to sue us and our right to defend ourselves,” it added.
Trump also accuses Jamie Dimon of ordering the creation of a “malicious blacklist” to warn other banks against doing business with the Trump Organization, members of the Trump family, and the president himself.
He claims that JPMorgan acted unilaterally, violating its own principles and penalizing him for political reasons.
