Trump argues to keep JPMorgan ‘debanking’ lawsuit in Florida

Trump originally sued JPMorgan and Dimon in state court in Miami-Dade County, citing a Florida unfair trade practices law. Photo by SAUL LOEB/AFP via Getty ImagesArticle contentPresident Donald Trump claimed JPMorgan Chase & Co. chief executive Jamie Dimon “personally directed” the closure of his accounts after the end of his first term in 2021, justifiying the CEO’s inclusion in Trump’s US$5 billion “debanking” suit.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentTrump is fighting JPMorgan’s push to transfer the case from Florida to New York, the forum specified in the bank’s customer agreements. In court filings Monday in Miami, Trump said the claims against Dimon are not covered by those agreements and that most of the harm to Trump was “felt in Florida.”Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle contentThe suit is part of Trump’s campaign against banks who he says have wrongfully denied services to conservatives. JPMorgan and another lender, Capital One Financial Corp., both closed accounts held by Trump and his businesses shortly after the Jan. 6, 2021, Capitol riot, though neither bank has given specific reasons for closing the accounts.Article contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“We do close accounts because they create legal or regulatory risk for the company,” JPMorgan said after the suit was filed. “We regret having to do so but often rules and regulatory expectations lead us to do so.”Article contentLast week, a federal judge in Miami dismissed the Trump Organization’s suit against Capital One as deficient and lacking in detail. But the judge said the company could file a new complaint by July.Article contentTrump originally sued JPMorgan and Dimon in state court in Miami-Dade County, citing a Florida unfair trade practices law. JPMorgan last month moved the case to United States district court in Miami, saying its CEO was improperly named as a defendant to avoid federal jurisdiction. The bank has since moved to transfer the case to federal court in Manhattan.Article contentArticle contentIn the Monday filings, Trump’s lawyer, Alejandro Brito, said Dimon was properly included in the suit.Article contentRead More Trump sues JPMorgan, Dimon for US$5 billion over alleged debanking Andrew Chau: Fintechs are giving Canadians choices, but we still need more banking competition Article content“Dimon personally directed the unlawful debanking of the plaintiffs, as well as the creation and dissemination of a blacklist targeting President Trump, and circulated that blacklist to other financial institutions,” Brito said. “At a minimum, those allegations establish far more than a reasonable possibility of liability under Florida law.”Article contentBrito also pushed for the case to be moved back to state court and requested that issue be decided before any ruling on JPMorgan’s move to transfer the case to New York.Article contentBloomberg.comArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentTrending Posthaste: Many Canadians could be committing insurance fraud — and don't even know it News Smith calls for new southbound pipelines, says U.S. could call 'first dibs' on Canadian oil exports Oil & Gas Why market bets for interest rate hikes in Canada are so high Economy Posthaste: Canada's troubled housing market just got hit with another headwind News Oil and gas supply chain is about to snap, warns energy economist Peter Tertzakian Oil & Gas Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. 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