Summary
- It was reported that U.S. President Donald Trump filed a $5 billion damages lawsuit against JPMorgan Chase and CEO Jamie Dimon.
- Trump’s side said JPMorgan put him and affiliated companies on a “blacklist,” engaging in “political debanking” that caused financial and reputational harm.
- JPMorgan and CEO Jamie Dimon said they have never closed accounts due to political views, and argued the measures were based on regulatory requirements and internal risk-management standards.
U.S. President Donald Trump has filed a $5 billion damages lawsuit against JPMorgan Chase and CEO Jamie Dimon. He claims the bank closed his accounts and related accounts for political reasons.
According to Walter Bloomberg, an economic breaking-news account, on the 22nd (local time), President Trump alleged in the complaint that JPMorgan violated its internal code of conduct and placed him and affiliated companies on a “blacklist,” causing financial and reputational harm. Trump’s side said the measures were part of so-called “political debanking,” in which access to financial services is restricted due to a particular political orientation.
Trump’s side requested a jury trial in the case and cited grounds including trade libel, unfair trade practices, and breach of the duty of good faith and fair dealing.
In response, JPMorgan and CEO Jamie Dimon countered that they have never closed accounts because of political views. The bank said the measures were taken in line with regulatory requirements and internal risk-management standards.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
