00:00It's Benzinga bringing Wall Street to Main Street
00:02President Trump sued JPMorgan Chase and Chief Executive Jamie Dimon for $5 billion on Thursday,
00:08according to The Wall Street Journal.
00:10Trump alleged the bank improperly closed his accounts for political reasons after the Capitol
00:15riot on January 21, 2021. Trump and some of his businesses claim JPMorgan closed multiple accounts
00:22in 2021 based on what the suit describes as an unsubstantiated belief that the bank needed
00:27to distance itself from him. The complaint alleges JPMorgan and Dimon later blacklisted Trump
00:32from wealth management services and influenced other banks to avoid working with him. JPMorgan
00:37said it does not discriminate based on political views and supports efforts to change rules that
00:42require banks to close client accounts. A bank spokeswoman said JPMorgan believes the lawsuit
00:47has no merit and said both sides have the right to resolve the dispute in court.
00:51For all things money, visit Benzinga.com.
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