Trump Sues JPMorgan Chase CEO Dimon Over Closed Accounts

The former president alleges the bank closed his accounts to further a political agenda.

Jan. 28, 2026 at 5:55pm

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Former U.S. President Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase and its CEO Jamie Dimon, accusing them of debanking him by closing several of his accounts in order to further a political agenda.

Why it matters

The lawsuit represents an escalation of tensions between Trump and major financial institutions, which have faced pressure to distance themselves from the former president following the January 6th Capitol riots. It also highlights the broader debate around 'debanking' and whether banks should be able to refuse service to certain customers for political reasons.

The details

In the lawsuit, Trump alleges that JPMorgan Chase and Dimon closed several of his personal and business accounts in the wake of the January 6th events, despite him not being charged with any crimes related to the Capitol attack. Trump claims the bank's actions were politically motivated in order to distance itself from the former president.

  • On January 28, 2026, Trump announced the $5 billion lawsuit against JPMorgan Chase and Dimon.
  • The lawsuit was filed by Trump on January 23, 2026, just one week prior to the public announcement.

The players

Donald Trump

The former president of the United States who filed the $5 billion lawsuit against JPMorgan Chase and its CEO.

Jamie Dimon

The CEO of JPMorgan Chase, the bank that Trump has accused of closing his accounts for political reasons.

JPMorgan Chase

One of the largest banking and financial services companies in the United States, which Trump has sued for $5 billion over the closure of his accounts.

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What they’re saying

“I don't think Jamie likes me too much nowadays, but that's OK.”

— Donald Trump, Former U.S. President (ksgf.com)

What’s next

The judge in the case will decide in the coming weeks whether to allow the lawsuit to proceed.

The takeaway

This lawsuit highlights the growing tensions between former President Trump and major financial institutions, as well as the broader debate around whether banks should be able to refuse service to customers for political reasons.