On January 22, President Donald Trump filed a civil suit in Miami-Dade County, Florida, seeking a minimum of $5 billion in damages. The complaint alleges that JPMorgan Chase & Co. and CEO Jamie Dimon terminated multiple bank accounts held by Mr. Trump and several of his hospitality companies in 2021 for political reasons following the January 6 Capitol events. The suit asserts claims for trade libel, violation of Florida’s Deceptive and Unfair Trade Practices Act, declaratory relief and breach of the implied covenant of good faith and fair dealing. It further contends that the bank placed Mr. Trump and related entities on a blacklist accessible by other federally regulated banks, inflicting “considerable financial and reputational harm.”

In a statement released on the same day, JPMorgan maintained that it does not close accounts for political or religious reasons but does so when clients present legal or regulatory risks. The bank emphasized that existing anti–money laundering and financial crime regulations compelled it to terminate certain relationships. JPMorgan also noted ongoing discussions with both the current and prior administrations to reform the regulatory framework that it says forces such actions, and expressed support for efforts to prevent the “weaponization of the banking sector.”

JPMorgan disclosed that CEO Jamie Dimon’s total pay package for 2025 increased by approximately 10% to $43 million. The 69-year-old bank chief’s compensation includes salary, bonuses and equity awards and reflects performance metrics tied to return on equity and efficiency ratios. This marks the fourth consecutive year of double-digit pay growth for Mr. Dimon, whose leadership has overseen the firm’s expansion into new markets and maintenance of one of the highest return-on-equity levels among U.S. banks.

According to an internal memo seen by Reuters, JPMorgan finalized the purchase of WealthOS, a London-based pensions technology platform, in late January. The acquisition is part of the bank’s strategy to bolster its retirement solutions offering in Europe and to integrate WealthOS’s data analytics and digital engagement tools into its existing asset management and custody services. JPMorgan expects the deal to accelerate client onboarding and support its ambition to grow pension assets under administration by 15% over the next two years.