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The CEO of JPMorgan Chase, Jamie Dimon, still disagrees with President Donald Trump’s multi-billion dollar lawsuit but admits that he sympathizes with Trump’s complaint with the bank.
During an appearance Monday on CNBC, Dimon was asked about the ongoing legal battle.
“I don’t like taking money out of the bank,” said Dimon. “And we’re pulling people out of the bank because of the legal and regulatory risks to us.”
TRUMP WANTS JPMORGAN CHASE AND CEO JAMIE DIMON FOR $5B OVER ‘Political’ BREAKING
President Donald Trump is suing JPMorgan Chase for $5 billion over his accounts due to be released in 2021, he says, for political reasons. (Mandel NGAN / AFP via Getty Images)
“We don’t usually do it for political or religious reasons – for other reasons,” he continued. “You don’t make a lot of money in bank accounts, so it’s very easy for banks to say, ‘I’m not taking any risk, let them go and bank somewhere else.’
After insisting that the government “knows a lot more than we do,” Dimon admitted he “sympathizes” with Trump.
“I respect the president’s right to sue the company. You know, we respect our right to defend ourselves. That’s why you have courts,” said Dimon. “This case is nothing. It’s going to be, you know, years of discovery. And, you know, we’ll see what happens. But I agree with him. They have a right to be angry. I can be angry too. Like, why is the bank allowed to do that? You know, but they’re forced to do it. You know, remember Operation Choke Point and, when they miss the punishment, you know, and you know, that bank, and you know, you lose the punishment. You know, cana, woulda, shoulda It’s all backwards, you know?”
JPMORGAN AGREES TO CLOSE TRUMP ACCOUNTS AFTER JAN 6 CAPITOL RIOT AS $5B BILL SEEKS POLITICAL ‘PLAYING’.
JPMorgan Chase Chairman and CEO Jamie Dimon admitted that “I would be angry too” when talking about Trump’s lawsuit against the company. (Alexander Tamargo/Getty Images for America Business Forum)
A spokesperson for Trump’s legal team told Fox News Digital, “By their own admission, JPMorgan Chase, under the direction of CEO Jamie Dimon, illegally exonerated President Trump, his family, and several of his businesses, causing significant financial and reputational damage. JPMorgan Chase and its associates have been exonerated, and they will see this case to a fair and just conclusion.”
In January, Trump filed a $5 billion lawsuit accusing JPMorgan Chase of pushing him out of the bank for political reasons in 2021.
Trump’s attorney said that February 19, 2021, was the day that “forever changed the relationship between the parties,” when the bank, allegedly “without warning or provocation,” informed Trump and his associates that many of the bank accounts they controlled, their beneficiaries, and used for transactions “will be closed in two months, in April 2019.”
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Trump’s lawsuit alleges that JPMorgan Chase closed his accounts for political reasons in response to the events of Jan. 6, 2021. (Plexi Pictures)
Trump has been a JPMorgan client for decades, and he and his affiliates “made hundreds of millions of dollars” through JPMorgan Chase, according to the lawsuit. The president accused JPMorgan Chase of removing him from the bank in response to the events of January 6.
JPMorgan Chase confirmed in a court filing last month that accounts related to Trump and his companies were closed in February 2021.
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Brooke Singman of Fox News contributed to this report.
