Trade libel
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JPMorgan Chase Moves to Dismiss Trump Debanking Lawsuit
PYMNTS.com· 2026-02-19 22:03
Core Viewpoint - JPMorgan Chase is seeking to dismiss President Trump's lawsuit alleging that the bank "debanked" him in 2021 and aims to move the case from Florida state court to federal court in Miami and then to New York [1][2] Group 1: Lawsuit Details - Trump filed a lawsuit against JPMorgan Chase and CEO Jamie Dimon on January 22, seeking $5 billion, claiming that the bank terminated his accounts for political reasons, resulting in significant financial and reputational harm [3][7] - The lawsuit alleges that JPMorgan Chase unlawfully published the names of Trump and his businesses on a "blacklist" accessible to other federally regulated banks [7][9] - JPMorgan Chase's lawyers argue that the lawsuit lacks details about the alleged blacklist, including its creation and circulation [8] Group 2: Bank's Position - JPMorgan Chase maintains that it does not close accounts for political or religious reasons, but rather due to legal or regulatory risks [10] - The bank believes the lawsuit has no merit and has publicly stated its position on the matter [9][10]
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].