Trump Sues JPMorgan for $5 Billion Over Debanking Claims

(Bloomberg) -- 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 and his businesses banking services for political reasons.

The complaint, filed Thursday, accuses the bank of trade libel and breach of implied covenant of good faith. It also claims Dimon violated Florida’s deceptive trade practices law. In response, the bank said it doesn’t close accounts for political or religious reasons.