President Donald Trump sued JPMorgan Chase & Co. and its Chief Executive Officer, Jamie Dimon, for at least $5 billion over allegations that the lender stopped offering him banking services for political reasons.
The complaint, filed in Miami-Dade County state court, accuses the bank of trade libel and breach of implied covenant of good faith and fair dealing. It also claims Dimon violated Florida’s Unfair and Deceptive Trade Practices Act. JPMorgan didn’t immediately return a call seeking comment.
Trump said in August that banks had discriminated against him in the past. JPMorgan had asked him to close accounts he held for decades within 20 days, he said in a CNBC interview at the time. JPMorgan has denied rejecting business on ideological grounds.
Trump has singled out JPMorgan repeatedly in his push to stamp out what he sees as banks refusing to provide financial services to customers for ideological reasons. The biggest US bank disclosed in November that it’s facing reviews, investigations and legal proceedings tied to the Trump administration’s fight against “debanking.”
Posted by John3262005
6 Comments
Sueing for at least $5 billion?
I wonder if they will do a settlement, though I guess we will have to see.
He’s really going for those Andrew Jackson vibes this term, eh?
>filed in Miami-Dade
ANOTHER HEATED MIAMI-DADE MOMENT! MODS, PLEASE BE ON-ROUTE HERE IMMEDIATELY!
>glazes trump,gets sued anyway
Fell for it again
On the one hand, a series of one-off deals (even re-traded) may be less expensive than the retaliation costs imposed by the Federal Government (malicious investigation by DOJ/OCC/FDIC). On the other, would need to have confidence that that the deal will last until the midterms.
Bakers shouldn’t have to bake a gay cake, but bankers on the other hand should be legally compelled to provide banking services to a known fraudster. 🤔 Conserva-logic.