00:00U.S. President Donald Trump on Thursday filed a $5 billion lawsuit against JPMorgan Chase and its CEO, Jamie Dimon.
00:09Trump accused them of debanking him by closing several of his accounts to further a political agenda.
00:15He also accused Dimon of ordering the creation of a, quote, blacklist that was allegedly intended to warn other banks about doing business with a Trump organization and Trump family members, as well as with Trump himself.
00:27The president spoke to reporters on board Air Force One.
00:57I guess it's a good lawsuit.
00:59JPMorgan denied that it closes accounts for political or religious reasons.
01:03It said it closes accounts that create legal or regulatory risk for the company.
01:08The largest U.S. bank said it respects Trump's right to sue, but believes that, quote, the suit has no merit.
01:15Shares in JPMorgan closed up 0.5 percent on Thursday.
01:20Trump has also attacked other lenders, including Bank of America, with allegations of debanking.
01:25He recently stirred up industry opposition by demanding a 10 percent cap on credit card interest rates.
01:31That drew strong criticism from Dimon at an appearance in Davos this week.
01:36It would be an economic disaster.
01:38Dimon has said that any such cap would curb access to credit for many consumers.
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