JPMorgan (JPM) Seeks Transfer of Trump's $5 Billion Debanking Lawsuit to New York

JPMorgan Chase & Co. requested the transfer of President Donald Trump’s lawsuit regarding account closures from Miami to a New York federal court. In a filing made on February 20, 2026, the bank argued that the agreed-upon forum for disputes is New York. The bank stated that the 10 plaintiffs, including Trump and his businesses, contractually consented to New York jurisdiction when opening accounts. JPMorgan further argued that the "overwhelming connections" to the state—where accounts were opened, managed, and allegedly targeted for closure—support the transfer. Trump sued the bank and CEO Jamie Dimon in January 2026, seeking $5 billion in damages for alleged "debanking" following the January 6, 2021, Capitol attack.