Overview
- Speaking on CNBC, Jamie Dimon said President Donald Trump’s lawsuit over closed accounts has no merit, while acknowledging he would be angry in the same position.
- Dimon said banks sometimes end customer relationships because of legal and regulatory risk and, at times, cannot fully explain the reasons to those affected.
- JPMorgan acknowledged in recent court filings that it closed dozens of accounts tied to Trump and his businesses in February 2021, weeks after the Jan. 6 Capitol attack.
- Trump’s suit alleges the bank acted for political reasons, claims he was placed on a blacklist, and seeks $5 billion in damages.
- Dimon suggested the dispute could take years to resolve in court and pointed to a regulatory environment that can encourage banks to offboard higher‑risk clients.