Donald Trump accuses JPMorgan of having closed his accounts for political reasons and demands 5 billion dollars before the Florida courts. By directly targeting CEO Jamie Dimon, the president reignites the explosive debate on “debanking”, a practice that fuels tensions between the political and financial spheres. This case questions the neutrality of major American banks. While Trump denounces ideological exclusion, JPMorgan, on its side, rejects any accusation of discrimination.
While JPMorgan had already closed Strike’s CEO’s accounts, other political actors, the American president is suing the bank for similar facts. The complaint was officially filed with the court of the State of Florida, in Miami-Dade County.
The president accuses JPMorgan Chase of having closed several of his personal and professional accounts “without warning or provocation”, shortly after the January 6, 2021, Capitol attack. In his lawsuit, Donald Trump demands 5 billion dollars in damages for :
The case also relies on public elements. In a post on his social networks on January 17, Trump declared that the Capitol attack represented a “correct action”, because in his view the 2020 election was “rigged”. This radical political stance would, in his eyes, be one of the reasons the bank severed its relationship with him.
On JPMorgan’s side, these accusations were rejected, claiming that the lawsuit was “baseless” and that the bank “does not close accounts for political or religious reasons”. This response aims to defend the image of a neutral and fair financial institution, although the controversy continues to grow.
Beyond his personal case, Donald Trump had already tried to make debanking a state issue. In August 2025, he signed a presidential decree requiring American regulators to investigate account closure practices deemed ideologically motivated.
This text aimed to prevent any politicized or illegal debanking, in an approach that sought to establish a regulatory framework for a rapidly growing issue. Far from isolated, the president relies on a global context, marked by multiple accusations brought by actors from the tech and crypto sectors, especially bitcoin.
The phenomenon, dubbed by some “Operation Chokepoint 2.0”, resurfaced in 2024 when more than 30 tech and crypto company leaders publicly testified about unexplained closures of their bank accounts.
JPMorgan CEO Jamie Dimon had already responded to these criticisms last December, stating: “we close accounts of Democrats. We close those of Republicans. We have closed accounts of people of different faiths. It’s never for those reasons”. This statement aimed to defend a policy of institutional neutrality, but it was insufficient to quell suspicions of a possible targeted exclusion strategy.
The outcome of this case could redefine the limits of banking neutrality towards political figures. If Trump claims to have been targeted for his beliefs, JPMorgan denies any political targeting against Trump, maintaining its defense line.
