JPM to transfer Trump's lawsuit to NY from Florida - Politico

JPM to transfer Trump's lawsuit to NY from Florida - Politico

JPMorgan Seeks to Transfer Trump’s $5 Billion Lawsuit to New York from Florida

JPMorgan Chase & Co. has filed a motion to transfer President Donald Trump’s $5 billion lawsuit from Florida state court to federal court in Miami, with the ultimate goal of moving the case to New York, according to court documents. The bank argues that Trump “fraudulently” included CEO Jamie Dimon as a defendant to manipulate jurisdiction and avoid federal court oversight as reported.

The lawsuit, filed in January 2026, alleges that JPMorgan “debanked” Trump and his businesses following the Jan. 6, 2021, Capitol riot, claiming the bank acted on political motives. JPMorgan disputes these allegations, calling the lawsuit “threadbare” and asserting that Dimon, as a federally regulated executive, cannot be subject to Florida’s unfair trade practices law according to court filings. The bank’s legal team, led by Jones Day and former Trump administration official Noel Francisco, emphasized that federal banking regulations preclude the creation of a “blacklist” as described by Trump’s claims as stated.

Trump’s legal team maintains that JPMorgan, under Dimon’s direction, “unlawfully debanked” the president, causing “overwhelming financial and reputational harm.” They frame the case as part of a broader effort to challenge what they describe as politically motivated banking practices according to their argument. However, JPMorgan has denied closing accounts for political reasons, stating such actions were taken for “legal and regulatory” compliance as the bank claims.

This is not the first such legal action; Trump previously sued Capital One in 2025 over similar allegations, which the bank has also sought to dismiss according to reports. The outcome of the jurisdictional motion could significantly impact the case’s trajectory, with JPMorgan seeking to leverage federal court procedures to dismiss the claims entirely as Bloomberg reported.

As the legal battle unfolds, the case highlights ongoing tensions between Trump and major financial institutions, which he has accused of discriminating against conservatives. JPMorgan and other banks have consistently denied politicizing banking decisions, attributing account closures to regulatory and risk-management protocols according to Politico.

(https://finance.yahoo.com/news/jpmorgan-says-trump-5-billion-194855618.html): Bloomberg, Yahoo Finance
(https://www.bloomberg.com/news/articles/2026-02-19/jpmorgan-says-trump-fraudulently-included-dimon-in-lawsuit): Bloomberg, Politico
(https://www.politico.com/news/2026/01/17/trump-jpmorgan-debanking-lawsuit-00735544): Politico (August 2025)