JP Morgan chief Jamie Dimon took home $43m pay last year

In January 2026, Donald Trump sued JPMorgan Chase and CEO Jamie Dimon for $5 billion in Miami-Dade County, Florida. The lawsuit alleges that JPMorgan abruptly closed multiple accounts belonging to Trump and his businesses in February 2021, shortly after he left office. Trump claims this "debanking" disrupted operations and forced him to find new banking services. The lawsuit asserts JPMorgan acted for political reasons, believing it was advantageous to do so. JPMorgan denies the allegations, stating that accounts are closed due to legal or regulatory risks, not political or religious beliefs. The White House has stated that they will refer the matter to the president's outside counsel.

US President Donald Trump has filed a US$5 billion lawsuit against JPMorgan Chase, alleging that the bank closed his accounts due to political reasons. The complaint claims that JPMorgan violated its own policies by singling out Trump and terminating several of his accounts without warning. Trump had previously stated that he planned to sue JPMorgan for allegedly "debanking" him following the January 6, 2021, attack on the US Capitol. JPMorgan has responded, stating that they respect Trump's right to sue but believe the suit has no merit. The lawsuit was filed in response to JPMorgan's alleged actions, which Trump claims were motivated by a desire to "ride the political tide". The bank had previously boasted about serving customers with respect and upholding its core values.

Donald Trump is suing JPMorgan Chase and CEO Jamie Dimon for $5 billion, alleging the bank closed his and his businesses' accounts for political reasons after he left office in January 2021. The lawsuit, filed in Miami-Dade County court in Florida, claims JPMorgan abruptly closed multiple accounts in February 2021 with only 60 days' notice and no explanation. Trump argues this action cut him and his businesses off from millions of dollars, disrupting operations and forcing them to urgently find new banking services. The lawsuit alleges JPMorgan believed closing the accounts was politically advantageous at the time. The practice of "debanking," where banks close accounts or refuse services, has become a politically charged issue, with conservatives claiming discrimination by financial institutions.

Jamie Dimon, CEO of JPMorgan Chase, received a $43 million compensation package in 2025, a 10% increase from the previous year. This solidifies his position as one of the highest-paid executives in the United States. The compensation includes a $1.5 million base salary and $41.5 million in incentives. JPMorgan Chase's board cited Dimon's leadership, strong financial performance, and development of future executives as reasons for the high compensation. The announcement came shortly after Donald Trump sued JP Morgan and Dimon for $5 billion, accusing the bank of "debanking" him. Dimon has been CEO since 2006 and is considered a prominent figure on Wall Street.