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Dive Deposits: New venue, but JPMorgan still wants Trump suit tossed

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Dive Deposits: New venue, but JPMorgan still wants Trump suit tossed

Lawyers for the bank called the plaintiffs’ allegations of blacklisting “so bare that it is impossible to determine what JPMorgan allegedly stated, when, or to whom.”

Hours before the Office of the Comptroller of the Currency published a 47-page report detailing nine banks’ missteps with regard to alleged wrongful account closures, the largest of those banks urged a federal court to throw out a lawsuit brought by the debanked-in-chief.

Lawyers for JPMorgan Chase argued Tuesday that President Donald Trump’s claims against the bank would “fail – multiple times over – and should be dismissed with prejudice.”

Trump sued JPMorgan and its CEO, Jamie Dimon, in a Florida court in January, accusing the bank of trade libel and breach of implied covenant of good faith and fair dealing. Trump also accused Dimon of violating Florida’s unfair and deceptive trade practices act by directing JPMorgan to put the plaintiffs on a “blacklist,” which allegedly was “published” to other, unnamed banks.

JPMorgan’s lawyers in February argued the plaintiffs “do not explain what this ‘blacklist’ entails, when it was created, to whom it was supposedly circulated, or any other detail describing it.

“If and when Plaintiffs explain what they mean by this ‘blacklist,’ JPMorgan will respond accordingly,” the bank’s lawyers wrote at the time.

Now that the case has moved to the U.S. District Court for the Southern District of New York, JPMorgan’s lawyers are amplifying their stance.

“Plaintiffs’ allegations regarding the alleged ‘blacklist’ are so bare that it is impossible to determine what JPMorgan allegedly stated, when, or to whom,” the bank’s lawyers wrote Tuesday.


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