Trump Sues JPMorgan Chase for $5 Billion Over Alleged 2021 Debanking

Former President Donald Trump has initiated a massive $5 billion lawsuit against banking giant JPMorgan Chase & Co. The legal action centers on allegations that the bank engaged in "debanking" practices against him in 2021, severing crucial financial services. The lawsuit claims this move was politically motivated and caused significant financial and reputational damage to Trump's business operations. This high-profile case highlights ongoing tensions between major financial institutions and political figures, potentially setting a precedent for similar legal battles over access to banking services. The outcome could influence how banks manage relationships with politically exposed persons (PEPs) in the future.