Trump sues JPMorgan Chase for ‘debanking him for political reasons’

Jamie Dimon, CEO of JPMorgan Chase, is being sued (Rebecca Blackwell/AP)

Donald Trump is suing banking giant JPMorgan Chase and its CEO Jamie Dimon for 5 billion dollars (£4bn), accusing the firm of debanking him and his businesses for political reasons after he was voted out of office in January 2021.

The lawsuit, filed in Miami-Dade County court in Florida, alleges that JPMorgan abruptly closed multiple accounts in February 2021 with just 60 days notice and no explanation.