Top CEO fires back at Trump lawsuit in new legal filing

JPMorgan Chase took issue with Donald Trump's attempt to name its CEO, Jamie Dimon, in a major lawsuit against the bank, alleging in a new court filing that his inclusion was done "fraudulently."

In January, Trump filed suit against the banking giant, accusing it of putting himself and his businesses on a "blacklist" following his first term, effectively "debanking" him. The suit further alleges that this decision was directed by Dimon and is seeking $5 billion in damages.

It was that detail that the company went after in a court filing submitted on Thursday, per a report from Bloomberg. In it, JPMorgan Chase claimed that Trump's inclusion of Dimon as a defendant in the lawsuit was done "fraudulently," in order to get the case filed in Florida state court, where Trump has tended to land sympathetic judges, and avoid going to federal court.

The company explained that Dimon cannot be included in the suit under the Florida unfair trade practices law cited by the president, because he is "closely and comprehensively regulated by the federal banking agencies. The filing seeks to have the case moved to a federal court in Miami, with plans to move it again to a state court in New York somewhere down the line.

The bank's ultimate goal is to have the "threadbare" lawsuit dismissed. Lawyers for the bank accused the suit of being "unclear" on key points of its argument, particularly about the "blacklist" at the core of its argument.

“They do not explain what this ‘blacklist’ entails, when it was created, to whom it was supposedly circulated, or any other detail describing it,” the bank's lawyers said. “Nor is it plausible that JPMorgan could create such a list consistent with the complex federal regulatory scheme to which it is subject.”

In a statement to Bloomberg, Trump's legal team stood by the claims in the lawsuit, though it did not provide evidence to counter JPMorgan's assertions. The team also claimed, as they have often done, that Trump is suing the company in the name of the little guy, as he "is standing up for all those wrongly debanked by JPMorgan Chase and their cohorts."

"By their own admission, JPMorgan Chase, at the direction of CEO Jamie Dimon, unlawfully debanked and blacklisted President Trump, his family, and several of his businesses, causing overwhelming financial and reputational harm," the statement read.

The same day that this filing was submitted, the Financial Times reported that JPMorgan Chase has been in talks to provide banking services for Trump's "Board of Peace" initiative. It is unclear how this deal might impact the lawsuit, and vice versa. Though not known as an outspoken Trump opponent, Dimon recently called out Trump's demand to have all credit card interest capped at 10 percent, calling the idea an "economic disaster."

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