Trump Sues JPMorgan and Jamie Dimon for 'Debanking' Him

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 22 January 2026

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Jan. 22. President Trump sues JPMorgan Chase for $5 billion, alleging that the country’s biggest bank closed his accounts in 2021 for political reasons. Plus, after more than 20 years as a private company, SpaceX may soon be going public. WSJ reporter Corrie Driebusch discusses what’s pushed CEO Elon Musk towards an IPO. And this year’s Oscar nominations are out, with a record-breaking 16 nods for “Sinners.” Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	How are the U.S. businesses of Philip Morris International invested in America?
0:05.0	We're invested in advancing science, giving adults who smoke better options.
0:10.0	We're invested in American manufacturing, helping local economies thrive.
0:15.0	We're invested in community, supporting military veterans and their families,
0:19.0	disaster relief, and economic empowerment.
0:22.5	Because we're proud to be invested in America.
0:25.9	See how at uspMI.com.
0:33.3	President Trump is suing J.P. Morgan for closing his accounts.
0:37.8	Plus, colorectal cancer is now the top cause of death from cancer among younger Americans.
0:43.3	And why Elon Musk decided SpaceX should go public after more than two decades as a private company.
0:48.9	There is a sense of urgency right now.
0:51.4	Our reporting shows that he's become a bit obsessed with the idea of being the first to put these data centers in space.
0:59.0	It's Thursday, January 22nd. I'm Alex O'Sullough for the Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:22.0	Today, President Trump sued J.P. Morgan Chase and its CEO Jamie Diamond for $5 billion,
1:28.6	alleging that the bank closed his accounts for political reasons after the riot at the Capitol on January 6, 2021.
1:33.7	The lawsuit, which was filed in Florida, says the bank closed the accounts that year and that J.P. Morgan has blacklisted Trump since then. The president has said the country's biggest banks
1:38.8	discriminate against him, his followers, and conservatives broadly. And he's ordered regulators to launch investigations into banks over allegations of what's known as debanking.
1:49.2	J.P. Morgan has said it doesn't discriminate based on politics, and a spokeswoman today said the suit has no merit.
1:59.9	More younger Americans are dying from colorectal cancer than any other kind of cancer.
2:05.2	The American Cancer Society said today that more than 3,900 adults under the age of 50 died of
2:10.6	cancer of the colon or rectum in 2023. That compares with just over 3,800 who died of breast cancer,
2:16.9	the number two cause of deaths from cancer for that year.
	...

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