Trump sues JPMorgan and Jamie Dimon over alleged ‘debanking’ #
Donald Trump has filed a lawsuit against JPMorgan Chase and its chief executive Jamie Dimon, alleging that the bank unfairly restricted or terminated financial services linked to him and associated entities for political reasons. The case centres on claims that JPMorgan engaged in “debanking” by limiting access to accounts and payment services, actions Trump argues were discriminatory and unjustified
JPMorgan has previously said decisions around client relationships are based on risk management and regulatory obligations, not political considerations. The lawsuit adds to a wider debate in the US over the role of banks in providing financial services to politically exposed or controversial clients, as well as concerns from conservative figures that large financial institutions are using compliance and risk policies to exclude certain customers.