JPMorgan Chase & Co has moved to redraw the legal battlefield in President Donald Trump’s $5 billion lawsuit, arguing that its chief executive, Jamie Dimon, was wrongly swept into the case.
In a court filing, the bank and Dimon contend that Trump improperly named the CEO as a defendant in what they describe as a tactical effort to keep the case in state court. According to the filing, claims of unfair trade practices cannot be applied to individual bank officers who are directly overseen by federal banking regulators.
Trump launched the lawsuit in January in a Miami-Dade County court, acting in his personal capacity. He accuses the banking giant of “debanking” him—closing certain accounts in 2021, shortly after his first term ended—and alleges the existence of a banking “blacklist.” The complaint seeks $5 billion in damages and includes claims of trade libel.
JPMorgan and Dimon reject those accusations outright. The filing states they are unaware of any such blacklist and deny engaging in the conduct alleged.
The latest motion was submitted in federal court in Miami, where the bank is attempting to shift the case. The defendants are also seeking to move proceedings to federal court in Manhattan, a venue often favored by large corporations in complex commercial disputes.
A spokesperson for Trump’s legal team countered that the bank and its CEO targeted Trump, his family and their businesses because of his “America First” agenda. The statement frames the lawsuit as part of a broader stand against what it characterizes as politically motivated debanking.
This case is one of several Trump has initiated in his personal capacity since returning to the presidency, adding another high-profile clash between the White House and Wall Street to an already crowded legal docket.
