JPMorgan says Trump “fraudulently” named the bank’s CEO as a defendant to file his lawsuit over account closures in a Florida state court, per Bloomberg

JPMorgan says Trump “fraudulently” named the bank’s CEO as a defendant to file his lawsuit over account closures in a Florida state court, per Bloomberg

JPMorgan Alleges Trump Fraudulently Named CEO in Lawsuit Over Account Closures

JPMorgan Chase has asserted that former President Donald Trump "fraudulently" included the bank's CEO, Jamie Dimon, as a defendant in his lawsuit challenging the closure of Trump's accounts, according to court filings and public statements. The dispute centers on legal procedural arguments, with JPMorgan seeking to dismiss the case or transfer it to a New York federal court.

The lawsuit, filed in a Florida state court, stems from JPMorgan's decision to close Trump's accounts in January 2021 following the Capitol riot. The bank has since acknowledged terminating the accounts but maintains the action was based on risk management and compliance protocols according to NBC News. Trump's legal team alleges the closures were politically motivated, but JPMorgan has not conceded to such claims.

In its response, JPMorgan argues that naming Dimon as an individual defendant was improper, claiming it was done to circumvent jurisdictional rules and force the case to remain in Florida according to Bloomberg. The bank further stated that Dimon personally did not make decisions regarding Trump's accounts and that the lawsuit misapplies legal standards. Separately, JPMorgan has sought to have the case relocated to a federal court in New York, where it is headquartered, citing venue fairness.

Legal analysts note that the outcome could set a precedent for how financial institutions defend against high-profile litigation and manage regulatory risks. For now, the case remains in procedural limbo, with no immediate resolution in sight.

This development underscores the ongoing legal and reputational challenges facing both political figures and major banks in contentious disputes. Investors are advised to monitor updates, as rulings could influence litigation strategies and financial sector compliance practices.

According to NBC News: NBC News, according to Bloomberg: Bloomberg, according to Bloomberg: Bloomberg.