President Donald Trump, the Trump Organization, Trump Payroll Corp., and multiple affiliated LLCs sued JPMorgan Chase and CEO Jamie Dimon in Florida state court.
The plaintiffs were JPMorgan clients for decades. In early 2021, JPMorgan unilaterally terminated their banking relationships. The bank provided no substantive justification at the time of termination.
The plaintiffs allege the decision was driven by political and social considerations following the January 6 events and Trump’s departure from office, not by objective compliance failures or unlawful activity.
The complaint asserts the plaintiffs were fully compliant with all applicable banking, AML, and regulatory requirements.
It alleges that JPMorgan placed the plaintiffs on an internal or shared blacklist accessible to other federally regulated banks. This list is described as one normally reserved for parties involved in malfeasance or regulatory violations.
The plaintiffs allege this publication was false, unjustified, and defamatory, and that it impaired their ability to obtain banking services elsewhere.
The complaint repeatedly alleges knowing, intentional, reckless, and bad faith conduct. It claims JPMorgan acted deliberately to distance itself from Trump due to perceived political risk and reputational pressure.
Causes of action pleaded
The complaint treats debanking as a commercial tort and market abuse.
Trump also launched an investigation on debanking in summer 2025 via Executive Order 14331.
What happens when the bullies are attacked by the greatest and most powerful bully of the world?
Go Donald!
The plaintiffs were JPMorgan clients for decades. In early 2021, JPMorgan unilaterally terminated their banking relationships. The bank provided no substantive justification at the time of termination.
The plaintiffs allege the decision was driven by political and social considerations following the January 6 events and Trump’s departure from office, not by objective compliance failures or unlawful activity.
The complaint asserts the plaintiffs were fully compliant with all applicable banking, AML, and regulatory requirements.
It alleges that JPMorgan placed the plaintiffs on an internal or shared blacklist accessible to other federally regulated banks. This list is described as one normally reserved for parties involved in malfeasance or regulatory violations.
The plaintiffs allege this publication was false, unjustified, and defamatory, and that it impaired their ability to obtain banking services elsewhere.
The complaint repeatedly alleges knowing, intentional, reckless, and bad faith conduct. It claims JPMorgan acted deliberately to distance itself from Trump due to perceived political risk and reputational pressure.
Causes of action pleaded
- Breach of the implied covenant of good faith and fair dealing
- Trade libel and defamation by publication
- Unfair and deceptive trade practices under Florida law
- Related derivative tort claims
- Loss of access to banking services
- Reputational harm
- Interference with business operations
- Economic damages exceeding an aggregate total of $15 billion
- Punitive damages are implied through allegations of willful misconduct
- Compensatory damages
- Punitive damages
- Declaratory relief
- Costs and fees
- Any further relief the court deems appropriate
The complaint treats debanking as a commercial tort and market abuse.
Trump also launched an investigation on debanking in summer 2025 via Executive Order 14331.
What happens when the bullies are attacked by the greatest and most powerful bully of the world?
Go Donald!
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