JP MORGAN CHASE(US:JPM) Yahoo Finance·2026-01-22 19:31Core Viewpoint - The lawsuit filed by President Trump's legal team against JPMorgan Chase and CEO Jamie Dimon alleges that the bank terminated services for political reasons, claiming a breach of good faith and fair dealing [1][2]. Group 1: Lawsuit Details - The lawsuit, amounting to $5 billion, was filed in a Florida court, accusing JPMorgan of violating its code of conduct by unilaterally terminating several of Trump's bank accounts without warning [2][3]. - Trump's attorney claims that in February 2021, JPMorgan notified Trump and his family that their accounts would be closed in two months, allegedly without provocation [3]. - The lawsuit alleges that JPMorgan's decision was influenced by "unsubstantiated, 'woke' beliefs" aimed at distancing the bank from Trump's conservative views [4]. Group 2: JPMorgan's Response - A spokesperson for JPMorgan stated that the bank plans to contest the lawsuit, asserting that it does not close accounts for political or religious reasons, but rather due to legal or regulatory risks [5]. - The bank expressed regret over the lawsuit but maintained that it believes the suit lacks merit and emphasized its right to defend itself in court [5]. - The issue of "politicized or unlawful debanking" has been a concern for conservatives and certain industries, with Trump previously signing an executive order to investigate such practices [5].