US President Donald Trump on Thursday sued JPMorgan Chase and CEO Jamie Dimon, alleging they illegally “debanked” him.
The bank closed accounts for Trump and his businesses several weeks after the Jan. 6, 2021 Capitol riot; the president has zeroed in on JPMorgan in his effort to oppose what he and his allies see as a systemic effort among financial institutions to refuse services to conservatives.
The bank said it doesn’t close accounts for political reasons.
Dimon has recently been critical about some of Trump’s economic policies, including tariffs and his proposed credit card interest rate cap. Other Wall Street CEOs at Davos, Bloomberg noted, are taking a different approach to Trump: avoiding talking about him at all.