Washington Examiner

Trump sues JPMorgan Chase over post-Jan. 6 ‘debanking’


Trump sues JPMorgan Chase over post-Jan. 6 ‘debanking’

President Donald Trump on Thursday sued JPMorgan Chase and CEO Jamie Dimon for “debanking” him in the aftermath of the Jan. 6 Capitol riots.

The president is seeking $5 billion in damages from the company, according to the lawsuit filed in the Florida state court in Miami.

Trump slammed JPMorgan and the Wall Street Journal on Saturday for publishing a story saying he offered the financial company’s CEO the job of Federal Reserve chair.

“A front page Article in The Fake News Wall Street Journal states, without any verification, that I offered Jamie Dimon, of JPMorgan Chase, the job of Fed Chairman,” the president posted on Truth Social. “This statement is totally untrue, there was never such an offer and, in fact, I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest, a protest that turned out to be correct for those doing the protesting — The Election was RIGGED!”

Trump said back in August that JPMorgan, Bank of America, and other big banks refused to accept more than $1 billion of his deposits. The refusal to take his money, he said, was for political reasons.

A JPMorgan Chase spokeswoman responded to the lawsuit in a statement to Fox News Digital.

“While we regret President Trump has sued us, we believe the suit has no merit. We respect the President’s right to sue us and our right to defend ourselves – that’s what courts are for,” she said.

“JPMC does not close accounts for political or religious reasons,” she added, “We do close accounts because they create legal or regulatory risk for the company. We regret having to do so but often rules and regulatory expectations lead us to do so. We have been asking both this administration and prior administrations to change the rules and regulations that put us in this position, and we support the Administration’s efforts to prevent the weaponization of the banking sector.”

It’s unclear why Trump has decided to sue JPMorgan now over the alleged debanking, but he expressed plenty of fury over the Wall Street Journal report about its CEO, Dimon. The report said Trump offered Dimon the Fed job, but that the CEO took it as a joke.

“Why wouldn’t The Wall Street Journal call me to ask whether or not such an offer was made? I would have very quickly told them, ‘NO,’ and that would have been the end of the story,” Trump responded to the rumor.

Trump also suggested the report said he offered Dimon the treasury secretary job, which he denied. Dimon has said he’d be more interested in the treasury secretary job than the Fed chair position.

“Also, one was led to believe that I offered Jamie Dimon the job of Secretary of the Treasury, but that would be one that he would be very interested in. The problem is, I have Scott Bessent doing a fantastic job, A SUPERSTAR — Why would I give it to Jamie? No such offer was made there, or even thought of, either. The Wall Street Journal ought to do better ‘fact checking,’ or its already strained credibility will continue to DIVE,” Trump added.

Trump’s feud with Federal Reserve Chairman Jerome Powell came to a head last weekend with the announcement of a Department of Justice criminal investigation into the official.

WALL STREET EXECUTIVES BACK POWELL AS DOJ INVESTIGATES FED CHAIRMAN: ‘NOT A GOOD IDEA’

Republicans and Democrats alike have opposed any allegations of wrongdoing by Powell since the inquiry dropped.

“I know Chairman Powell very well. I will be stunned — I will be shocked — if he has done anything wrong,” Sen. John Kennedy (R-LA) said on Monday.


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