President Donald Trump is suing JPMorgan Chase, the nation’s largest financial institution, and its CEO Jamie Dimon, charging it improperly dropped him as a shopper in 2021 for political causes.
The swimsuit in state courtroom in Florida seeks $5 billion in damages. JPMorgan Chase stated the swimsuit is with out advantage and it’s going to combat it in courtroom.
“While we regret President Trump has sued us, we believe the suit has no merit,” stated Trish Wexler, spokeswoman for JPMorgan. “We respect the President’s right to sue us and our right to defend ourselves – that’s what courts are for.”
Wexler stated JPMorgan doesn’t shut accounts for political or non secular causes.
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“We do close accounts because they create legal or regulatory risk for the company,” Wexler stated. “We regret having to do so but often rules and regulatory expectations lead us to do so. We have been asking both this Administration and prior administrations to change the rules and regulations that put us in this position, and we support the Administration’s efforts to prevent the weaponization of the banking sector.”
– This is a growing story. It will likely be up to date.