Kathmandu. US President Donald Trump has sued JPMorgan Chase, the country’s largest bank, for $ 5 billion. He accused the bank of illegally closing his account for political reasons.
The bank’s Chief Executive Officer Jamie Dimon is also named in the lawsuit. “Since the bank abruptly closed its accounts in 2021, Trump and his business have suffered tremendous financial damage and reputational damage,” the lawsuit said. ’
The bank had decided to shut down the accounts after the Jan. 6, 2021, riots by Trump supporters stormed Capitol Hill and tried to disrupt the official confirmation of the election results. “There is no basis for this lawsuit,” a JPMorgan Chess spokesperson said. JPM does not close accounts for political or religious reasons. ’
“We close accounts when they pose a legal or regulatory risk to the company,” the bank said in a statement. ’
Trump discussed the issue over the weekend. Dimon has led JPMorgan for the past two decades.
In recent weeks, Dimon has opposed the administration’s proposal to set a credit card limit. He has also criticized immigration policy and the administration’s stance on the Federal Reserve.
