Court filing charges corporation violated both spirit and letter of the law
Officials for JPMorgan Chase, including its CEO Jamie Dimon, have gone public on Thursday with claims that they "abide by the letter and spirit of the law and regulations everywhere we do business," following a court filing by President Donald Trump that accuses the company of illegally debanking him for political reasons.
A report at Fox Business said the $5 billion claim by Trump charges that despite claiming to hold high ethical business principles, "JPMC violated them by unilaterally – and without warning or remedy – terminating several of Plaintiffs' bank accounts."
The filing was handled by the president's lawyer, Alejandro Brito.
Trump had given the company business for decades, handling "hundreds of millions of dollars" through its channels, the lawsuit said.
But on Feb. 19, 2021, the bank attacked, a day that "forever altered the dynamic of the parties' relationship."
Without warning or provocation the bank announced it was closing his accounts. There was no recourse or remedy offered.
And that decision, the lawsuit charges, "came about as a result of political and social motivations, and JPMC's unsubstantiated, 'woke' beliefs that it needed to distance itself from President Trump and his conservative political views."
The filing states, "In essence, JPMC deb[a]nked plaintiff's accounts because it believed that the political tide at the moment favored doing so. In addition to the considerable financial and rep[u]tational harm that Plaintiffs and their affiliated entities suffered, JPMC's reckless decision is leading a growing trend by financial institutions in the United States of America to cut off a consumer's access to banking services if their political views contradict with those of the financial institution."
The moves violated the bank's own code of conduct and was part of an agenda, "a systemic, subversive industry practice that aims to coerce the public to shift and re-align their political views."
Further, the bank is charged with publishing Trump's name on a "blacklist."
That defies the fact that the plaintiffs "have always complied with all applicable banking rules and regulations and their wealth management accounts were in good standing."
Actually, the bank's actions fall under "unfair and deceptive trade practice," the filing said.
Bank spokesperson Trish Wexler claimed, "Serving more than 80 million Americans is our privilege, and we agree that no one's account should ever be closed because of political or religious beliefs. We appreciate that this administration has moved to address political debanking, and we support those efforts."
https://www.wnd.com/2026/01/reckless-decision-trump-sues-jpmorgan-chase-dimon-political/
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