It wasn’t just former President Joe Biden and his attack dogs, former Attorney General Merrick Garland and Special Counsel Jack Smith, who tried to destroy Donald Trump after the controversial 2020 presidential election and the protests of January 6.
Corporations got involved, too, and one of the biggest banking behemoths in the land, JPMorgan Chase & Co, famously told Trump and his money to take a hike and go do business elsewhere. It’s an insidious process known as “debanking,” and it can seriously mess up your operations if it happens to you.
It happened to Trump, and now he’s coming for some accountability:
President Donald Trump on Thursday, Jan. 22, sued JPMorgan Chase & Co. and its CEO Jamie Dimon for $5 billion, accusing the bank of dropping Trump as a client for political reasons after the Jan. 6, 2021, attack on the U.S. Capitol.
The lawsuit, which Trump had threatened for days, was filed in state court in Florida as Trump returns from Davos, Switzerland, where he attended the World Economic Forum.
🚨 Trump Sues JP Morgan Chase and CEO Jamie Dimon for $5 BILLION pic.twitter.com/u1yteBfz2I
— Mr Producer (@RichSementa) January 22, 2026
Trump has had plenty of success with lawsuits — just ask ABC (Disney), CBS (Paramount), Meta (Facebook), and YouTube (Alphabet), all of whom settled for millions of dollars after Trump took them to court for falsely reporting about him or kicking him off their platforms.
I attended a talk by Trump’s second son, Eric, in October at the Ronald Reagan Library in Simi Valley, California, and he recounted just how devastating the effects of various financial institutions’ efforts to kneecap their company were to the Trump Organization, where he serves as Executive Vice President.
They did everything to bring them down, he said:
They came after us in every way, shape, or form. They debanked the company, they deplatformed the company, they pulled my father off the ballot in Maine, they pulled them off the ballot in Colorado, right? They raided our home, they raided Melania's closet, they raided Barron's room. They did everything they could to destroy us, and I became the most subpoenaed person in American history, 112 subpoenas.
Eric Trump says that his family was debanked by JP Morgan, Bank of America and Capital One for their political affiliations and that is how he found Bitcoin and cryptocurrency.
— The ₿itcoin Therapist (@TheBTCTherapist) January 22, 2026
“We were cancelled like we were dogs.”pic.twitter.com/0C3G7iLuSf
Un-American: Eric Trump Spoke at the Reagan Library, and What the Left Did to His Family Will Make Your Toes Curl
The lawsuit isn’t the most exciting reading, and the legal language can only hint at the vindictiveness behind JPMorgan's move against the Trump family:
"Plaintiffs are confident that JPMC’s unilateral decision came about as a result of political and social motivations, and JPMC’s unsubstantiated, 'woke' beliefs that it needed to distance itself from President Trump and his conservative political views," the lawsuit reads. "In essence, JPMC debanked Plaintiffs’ Accounts because it believed that the political tide at the moment favored doing so."
"While we regret President Trump has sued us," JPMorgan responded in a statement, "we believe the suit has no merit.”
As the old saying goes, “Tell it to the judge."
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