Donald Trump has initiated a significant legal battle against JPMorgan Chase, filing a lawsuit seeking $5 billion in damages. The former president accuses the major financial institution and its CEO, Jamie Dimon, of politically motivated actions that led to the closure of his bank accounts.
The lawsuit was submitted on January 22, 2026, in a state court in Miami, Florida, by Trump’s attorney, Alejandro Brito. It alleges that on February 19, 2021, Trump and his affiliated entities were informed by the bank that their accounts would be closed “without warning or provocation.” The closures were set to take effect on April 19, 2021, just two months after the notification.
According to the filing, Trump believes that JPMorgan Chase’s decision to sever ties with him was influenced by “political and social motivations.” Brito asserts that the bank’s actions stemmed from what he described as JPMorgan Chase’s “unsubstantiated, woke beliefs” that it needed to distance itself from Trump and his conservative views.
The lawsuit represents a substantial confrontation between a former president and one of America’s largest banking institutions. Trump has previously claimed that financial institutions have acted against him due to his political stance, and this latest filing appears to reinforce that narrative.
As this story develops, further details will emerge regarding the legal proceedings and the implications for both Trump and JPMorgan Chase. The outcome of this case could have significant repercussions not only for the bank but also for the broader relationship between financial institutions and politically active clients.
This legal action reflects ongoing tensions in the political landscape, particularly as Trump continues to engage in public discourse surrounding his experiences following his presidency. The lawsuit’s resolution will be closely monitored, given its potential impact on the intersection of finance and politics in the United States.
