JPMorgan lashed out at President Donald Trump on Thursday, accusing him of “fraudulently” naming CEO Jamie Dimon as a defendant in a $5 billion lawsuit over the closure of the commander-in-chief’s accounts and arguing the move was designed to keep the case in Florida.
In a court filing Thursday in Miami, the bank asked a judge to move the case to federal court there and said it would later seek to transfer it to New York. JPMorgan described Trump’s claims as “threadbare” and said it plans to seek dismissal.
The bank argued that Dimon was improperly included because Florida’s unfair and deceptive trade practices law does not apply to him as an executive “closely and comprehensively regulated by the federal banking agencies.”
JPMorgan said Trump’s allegation that Dimon personally directed the bank to place him and his businesses on a “blacklist” lacked plausibility under federal regulations governing the industry.
Trump filed the lawsuit in January in a Florida state court in Miami-Dade County, seeking at least $5 billion in damages.
He accused JPMorgan and Dimon of “debanking” him and his companies for political reasons, claiming the bank closed accounts in early 2021 — shortly after the Jan. 6, 2021, Capitol riot — and added them to an alleged blacklist that harmed their ability to do business elsewhere.
JPMorgan’s filing called Trump’s description of the apparent blacklist “unclear” and deficient, noting that the suit fails to specify what the list entailed, when it was created, to whom it was distributed or other key details.
“Nor is it plausible that JPMorgan could create such a list consistent with the complex federal regulatory scheme to which it is subject,” the bank’s lawyers wrote.
The Post sought comment from the Trump Organization. A JPMorgan spokesperson declined to comment.
The dispute stems from JPMorgan’s decision to end banking relationships with Trump and related entities in 2021.
The bank has previously said that was based on risk assessments rather than politics. The case highlights ongoing tensions between Trump, other conservatives, and major financial institutions over access to banking services.
Credit: Source link
