(Bloomberg) – President Donald Trump sued JPMorgan Chase & Co. and its chief executive officer, Jamie Dimon, for at least $5 billion over allegations that the lender stopped offering him and his businesses banking services for political reasons.
The complaint, filed Thursday, accuses the bank of trade libel and breach of implied covenant of good faith. It also claims Dimon violated Florida’s deceptive trade practices law. In response, the bank said it doesn’t close accounts for political or religious reasons.
I doubt this goes anywhere other than “virtue” signaling to his puppets that he’s stronk-man big tough! IANAL, but discovery works both ways. He would have to pony up ALL KINDS of juicy corruption transactions, etc. as soon as JPMorgan claims they closed it over money laundering and fraud. Not to mention that JPMorgan has DEEEEP pockets to fight it. I expect either a very quiet and quick settlement where they just cave to get on his good side or they go balls deep and he withdraws. My money is on the latter. TACO.