Trump Sues JPMorgan Chase and CEO for $5B, Alleging They ‘Debanked Him’ After Capitol Riot
Trump filed a $5 billion lawsuit in Florida against JPMorgan Chase and CEO Jamie Dimon on January 22, 2026, claiming the bank “debanked” him for political reasons following the January 6, 2021 Capitol riot. According to the suit, JPMorgan Chase notified Trump in February 2021 that his accounts would be closed within two months. Trump’s legal team, led by attorney Alejandro Brito, alleges the bank made this decision based on “political and social motivations” and “woke” beliefs rather than legitimate business concerns.
JPMorgan Chase rejected the allegations, with a spokesperson stating the bank “does not close accounts for political or religious reasons” and instead closes accounts that “create legal or regulatory risk.” The bank further stated it “regret[s] having to do so but often rules and regulatory expectations lead us to do so.” The bank’s official response to the lawsuit was direct: “While we regret President Trump has sued us, we believe the suit has no merit,” and affirmed its right to defend itself in court.
The lawsuit emerges two months after CEO Dimon publicly declined to fund Trump’s proposed 90,000-square-foot White House ballroom, estimated at $400 million. During a November 2025 CNN interview, Dimon explained that JPMorgan Chase maintains strict policies on government contracts and avoids appearances of “buying favors,” citing concerns about regulatory scrutiny from future administrations. The ballroom is being funded by Trump and other donors including Amazon, Apple, Google, Microsoft, and the Winklevoss twins, but not JPMorgan Chase.
Dimon has previously contradicted Trump’s claims about their relationship. During the 2024 election, Trump falsely claimed Dimon had endorsed him for president, a claim JPMorgan Chase publicly denied. On January 21, 2026, at the World Economic Forum in Davos, Dimon stated, “I don’t like what I’m seeing,” indicating continued skepticism of Trump’s policies and actions.