All articles tagged with #jpmorgan chase
JPMorgan Chase acknowledged in court filings that it closed Donald Trump and Trump Organization accounts after the January 6 Capitol attack, a fact cited in Trump’s $5 billion lawsuit alleging politically motivated debanking; the bank said the closures included a two‑month transfer window and argued New York is the proper forum, as the dispute underscores a broader debate over politically targeted banking.
JPMorgan Chase disclosed in a court filing that it closed certain Trump accounts in February 2021 after the Jan. 6 Capitol attack, marking the first written admission in Trump’s lawsuit alleging political motives behind debanking. The bank seeks to move the case from state to federal court and to New York for jurisdiction, as Trump’s lawyers push the dispute over alleged reputational blacklisting and damages in a high-stakes legal battle.
JPMorgan Chase confirms it closed Donald Trump’s bank accounts following the Capitol riot.
JPMorgan Chase asked to move Trump’s $5 billion debanking lawsuit from Florida state court to federal court, arguing the Deceptive and Unfair Trade Practices Act does not apply to federally regulated bank officers and that Jamie Dimon was fraudulently included to keep the case in state court; Trump accused the bank of political reasons for dropping him as a client.
President Donald Trump sues JPMorgan Chase and CEO Jamie Dimon for $5 billion, alleging the bank’s decision to close his accounts after Jan. 6 was a politically motivated act of “debanking.” The article notes the bank gave 60 days’ notice, argues there’s no right to a bank of one’s choosing, and points out that Trump has filed similar banking-related suits (including against Capital One). It also highlights Trump’s private attorney Alejandro Brito, who leads other defamation and banking-related suits, framing these actions as pressure tactics against powerful institutions.
Former President Donald Trump filed a Florida civil suit against JPMorgan Chase, alleging the bank debanked him for political reasons after a 2021 notice to move funds and a later 'blacklist' of his accounts, seeking $5 billion. The filing argues the actions were politically motivated and cites federal investigations, while critics note Florida’s consumer-protection statute lacks a private right of action, framing the move as a high-profile, controversial legal gambit.
Jamie Dimon publicly warned at Davos that Trump’s plan to cap credit-card interest rates would be an “economic disaster,” marking a rare high-profile challenge to the president from Wall Street. Days later Trump sued JPMorgan Chase and Dimon over allegedly debanking him after January 6, 2021, illustrating the growing risk for CEOs who defy Trump. The episode signals a shift in corporate America from quiet compliance to vocal pushback on policy that could dent profits, with other bankers also voicing concerns about rate caps and Fed independence. The tensions underscore the fragile, often adversarial dynamic between business leaders and the White House during Trump’s era.
Trump’s relationship with JPMorgan Chase CEO Jamie Dimon has deteriorated from early cooperation on pro-growth policy to a public clash, highlighted by a $5 billion lawsuit over alleged politically motivated account closures after the Capitol riot; Dimon has criticized Trump on issues like Fed independence and policy ideas such as a credit-card rate cap, signaling rising tension between the White House and Wall Street.
At Davos, JPMorgan CEO Jamie Dimon warned that a proposed 10% cap on credit card interest could drastically shrink credit availability, potentially removing credit from up to 80% of Americans in a worst-case scenario. Trump has pushed the cap, claiming lenders would violate the law; the White House has not commented. Dimon said the impact would ripple beyond banks to restaurants, retailers, and travel companies, and he even suggested testing the policy in Vermont and Massachusetts. The issue sits amid a broader affordability push as average credit card APR rose to about 22.8% in 2023, with banks warning a cap could harm consumers and small businesses ahead of midterms.
Former President Donald Trump filed a Miami complaint seeking at least $5 billion from JPMorgan Chase and CEO Jamie Dimon, accusing the bank of debanking him after the January 6 Capitol riot and discriminating against him; JPMorgan has not commented, with more details expected.
Former President Donald Trump filed a Florida state court suit against JPMorgan Chase and CEO Jamie Dimon, seeking at least $5 billion in civil damages, alleging the bank closed his and related accounts in early 2021 for political reasons after the Jan. 6 riot; JPMorgan says the suit lacks merit and that it does not close accounts for political or religious reasons, noting it closes accounts to manage legal or regulatory risk, while the case raises questions about whether banks are restricting access to banking based on political views.
JPMorgan Chase CEO Jamie Dimon warned at Davos that President Trump’s proposal for a 10% cap on credit-card interest would compel banks to curb credit lines for many Americans, potentially depressing consumer borrowing and the broader economy. He estimated the move could strip credit from a large share of the population, and said JPMorgan would prepare a thorough analysis for the government as other banks voiced concerns about the policy’s effects. Democrats back the cap, while lenders warn it could slow spending and harm growth.
JPMorgan Chase CEO Jamie Dimon called Trump's proposal to cap credit card interest at 10% an 'economic disaster,' saying it would dramatically restrict credit for about 80% of Americans and harm restaurants, retailers, travel firms and schools; the plan lacks a clear enforcement path and has drawn pushback from banking groups, even as Trump promotes it on Truth Social.
U.S. bank stocks fell in morning trading as investors awaited the Trump administration’s January 20 deadline to implement a 10% cap on credit-card interest rates, with JPMorgan Chase, Citigroup and others down amid concerns about credit access and potential regulatory action.
U.S. bank stocks fell in morning trading as investors awaited clarity on whether the Trump administration's Jan. 20 deadline to implement a 10% cap on credit card interest rates will take effect, with JPMorgan Chase, Bank of America, Citigroup and others declining as analysts warned the cap could curb credit availability and impact consumer lending.