Trump Team Battles JPMorgan Over 'Debanking' Lawsuit Jurisdiction

President Donald Trump's 'political debanking' lawsuit against JPMorgan Chase has taken a procedural turn in March, with court documents revealing that Trump's lawyers are now focused on where the case should be heard.

The issue of 'debanking,' or when a financial institution abruptly closes an account and refuses to do further business, has become highly politicized. In 2025, Trump filed a lawsuit against Capital One, alleging that over 300 business accounts associated with him were closed due to political bias. However, the company claimed the closures were prompted by money laundering concerns.

Trump's lawyers are now arguing that JPMorgan Chase improperly removed the case from state court to federal court. They claim that CEO Jamie Dimon was fraudulently added as a defendant to defeat 'diversity jurisdiction.' Diversity jurisdiction is a rule that allows federal courts to hear lawsuits involving parties from different states and large sums of money.

The filing argues that Florida law allows corporate officers to face liability when they personally participate in alleged deceptive conduct. Trump's lawyers claim that Dimon directed the decision to end banking relationships, making him liable under Florida's Deceptive and Unfair Trade Practices Act.