JPMorgan Chase Rebuts Trump's $5 Billion Lawsuit, Seeks Federal Court Transfer

Washington D.C. – American multinational banking group JPMorgan Chase has strongly countered the $5 billion lawsuit filed by President Donald Trump and is demanding the case be moved to federal court. The company alleges that its Chief Executive Officer, Jamie Dimon, was fraudulently included in the lawsuit.

In a notice filed with the court, the bank's lawyers stated that Trump's lawsuit is based on a law that grants immunity to officers of federally regulated banks when acting in their official capacity. According to them, Florida's 'Deceptive and Unfair Trade Practices Act' does not apply to officers of federally regulated banks, making the inclusion of Dimon in the suit improper.

Last month, Trump filed a lawsuit against JPMorgan Chase and Dimon, alleging that he was removed from the bank's client list in 2021 for political reasons. Trump is seeking $5 billion in damages in the suit.

According to JPMorgan, the company is legally domiciled in Ohio. Since none of the plaintiffs in the case are citizens of Ohio, the case is eligible to be heard in federal court. The bank claims that Trump's lawyers intentionally included Dimon to keep the case in state court.

The banking group has declined to comment further on the matter, and the White House has reportedly been sought for comment.