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Trump’s retribution campaign hits JPMorgan Chase
Yahoo Finance· 2026-01-22 18:28
Core Viewpoint - President Donald Trump has filed a lawsuit against JPMorgan Chase and its CEO Jamie Dimon, alleging that the bank closed his accounts for political reasons, seeking at least $5 billion in damages [1][2]. Group 1: Lawsuit Details - The lawsuit claims that JPMorgan Chase's decision to drop Trump as a customer was influenced by "woke beliefs" and political motivations [2]. - Trump and associated business entities are pursuing claims of trade libel and breach of fair trade covenants [1]. Group 2: JPMorgan Chase's Response - JPMorgan Chase has labeled the lawsuit as meritless, expressing regret over the situation while affirming its right to defend itself in court [3]. - The bank stated that account closures are not politically motivated but are due to legal or regulatory risks [4]. Group 3: Jamie Dimon's Position - Jamie Dimon has publicly criticized Trump's proposed cap on credit card interest rates, describing it as an "economic disaster" that could severely impact credit access for lower-income Americans [5]. - Dimon has also expressed disapproval of Trump's hardline immigration policies, advocating for a more measured approach to immigration issues [6].