Trump 1 – JPMorgan 0. In January 2024, then-former President of the United States Donald Trump sued JPMorgan Chase for closing his bank accounts “illegally” and “for purely political reasons”. After months of proceedings, the banking giant has finally admitted to having “debanked” Trump and his family.
The key points of this article:Donald Trump has filed a lawsuit against JPMorgan for allegedly closing his bank accounts illegally and for political reasons.
JPMorgan admitted to closing the accounts of Trump and his family, but denied any political motivation, saying legal or regulatory risks were involved.
JPMorgan admits to having “unbanked” Trump, but denies any political reason
As part of the complaint filed by Donald Trump against JPMorgan Chasethe bank had to admit that it had indeed decided to close accounts of the former US president and his family. However, she continues to nier that it was for reasons policies. As reported in particular by Fortune, it is Dan Wilkeningformer administrative director of JPMorganwho confirmed this account closure in a sworn statement:
“In February 2021, JPMorgan informed the plaintiffs [Donald Trump] that certain accounts held with JPMorgan's commercial bank (CB) and private bank (PB) would be closed. »
Dan Wilkening, former chief administrative officer of JPMorgan – Source: Fortune
However, as journalists point out, the CEO of JPMorgan, Jamie Dimonhad declared under oath in May 2025 that the bank had not « not made a decision » regarding the accounts of Donald Trump after the Capitol riot of January 6, 2021. A statement which therefore seems false Today.
Last January, the US president's lawyers sued the JPMorgan bank – Source: Compte
Former US president demands $5 billion in damages
In its complaint against JPMorgan, Donald Trump and his lawyers believe that the closure of his accounts was “illegal” et “for purely political reasons”. And they demand no less than 5 billion dollars damages! For her part, the bank spokesperson, Trish Wexlercontinues to deny in the press any motivation policy in this closure of accounts:
“We close accounts that pose a legal or regulatory risk to the business. (…) We regret having to do it, but often the rules and regulatory expectations lead us there. »
Trish Wexler, spokesperson for JPMorgan – Source: CNN
This story is therefore not over and there is no doubt that the current president's team of lawyers will put significant media and legal pressure on the bank to win its case. Unless all this is resolved around an agreement which the American justice system has the secret of and which could reach a record amount. Case to follow.