Dimon Fights Back in Trump Debanking Battle

JPMorgan Chase has moved to strike CEO Jamie Dimon from President Donald Trump’s $5 billion debanking lawsuit, arguing in a court filing that the bank’s chief executive should never have been named as a defendant.

In a filing submitted Thursday, attorneys for the nation’s largest lender said Trump’s legal team failed to establish the factual or legal basis required to pursue claims against Dimon under Florida’s Deceptive and Unfair Trade Practices Act.

The statute, the bank argued, does not apply to bank officers who are directly regulated by federal banking agencies or acting in their official capacity on behalf of a federally supervised institution.

Trump’s lawsuit alleges that Dimon directed JPMorgan to place the president, his family, and affiliated businesses on a so-called blacklist that was allegedly circulated to other banks.

According to JPMorgan’s lawyers, the complaint lacks the most basic factual details.

The filing says the plaintiffs do not explain what the alleged blacklist entails, when it was created, how it was distributed, or to whom it was supposedly sent.

The bank called the claims vague and conclusory, adding that it was not aware of any such list and denying the existence of a coordinated blacklist.

JPMorgan further argued that even if such a list existed, the Florida statute cited in the complaint would not create a viable claim against Dimon personally.

The bank’s lawyers described the lawsuit as threadbare and said the inclusion of Dimon as a defendant does not defeat federal jurisdiction.

They are seeking to move the case to federal court in the Southern District of Florida, with a potential transfer to federal court in New York.

Trump’s legal team responded forcefully, reiterating its claims that JPMorgan unlawfully debanked and blacklisted the president and his businesses, allegedly causing financial and reputational harm.

A spokesperson for the president’s lawyers said the actions were motivated by opposition to Trump’s America First policies and framed the case as part of a broader fight against political discrimination in financial services.

The dispute is rooted in long-standing allegations by Trump and his allies that major U.S. banks have refused services to conservatives for political reasons.

Trump publicly raised the issue at the World Economic Forum in Davos last year, suggesting that banks had denied access to conservatives and questioning whether regulators had influenced those decisions.

The lawsuit claims that the alleged debanking occurred following the January 6, 2021 Capitol attack, shortly before the end of Trump’s first term. Trump is seeking at least $5 billion in damages.

JPMorgan has previously denied closing accounts for political or religious reasons, stating that it terminates banking relationships only when they pose legal or regulatory risk to the institution.

The case also follows a separate lawsuit brought by the Trump Organization against Capital One, alleging that more than 300 accounts were closed for political reasons. Capital One has sought dismissal of that case, citing insufficient evidence.

The latest filing intensifies a high-profile legal battle that touches on political speech, bank governance, and the regulatory obligations of federally supervised institutions.

As the case moves toward potential federal jurisdiction, it could test the legal boundaries between corporate risk management decisions and claims of political discrimination within the U.S. banking system.