President Donald Trump has filed a sweeping $5 billion lawsuit against JPMorgan Chase and its CEO Jamie Dimon, accusing the banking giant of “debanking” him and his businesses for political reasons.

The lawsuit was filed Thursday morning in Florida state court in Miami by Trump’s attorney, Alejandro Brito, on behalf of the president and several of his hospitality companies.

In the complaint, Brito cites JPMorgan’s own code of conduct, which states that the bank operates “with the highest level of integrity and ethical conduct.”

“We set high expectations and hold ourselves accountable. We do the right thing—not necessarily the easy or expedient thing. We abide by the letter and spirit of the laws and regulations everywhere we do business and have zero tolerance for unethical behavior,” the lawsuit states, citing the bank’s code of conduct.

“Despite claiming to hold these principles dear, JPMC violated them by unilaterally—and without warning or remedy—terminating several of Plaintiff’s bank accounts,” the lawsuit claims.

A JPMorgan Chase spokesperson responded to Fox News Digital, saying: “While we regret President Trump has sued us, we believe the suit has no merit. We respect the President’s right to sue us and our right to defend ourselves – that’s what courts are for.

“JPMC does not close accounts for political or religious reasons,” she continued, “We do close accounts because they create legal or regulatory risk for the company. We regret having to do so but often rules and regulatory expectations lead us to do so. We have been asking both this administration and prior administrations to change the rules and regulations that put us in this position, and we support the Administration’s efforts to prevent the weaponization of the banking sector.”

According to the lawsuit, Trump had been a JPMorgan customer for decades, with him and his affiliated entities having “transacted hundreds of millions of dollars” through the bank.

Trump’s legal team says the relationship changed dramatically on Feb. 19, 2021, when JPMorgan allegedly “without warning or provocation,” informed Trump and his entities that multiple accounts they controlled or used would be closed just two months later, on April 19, 2021.

“JPMC did not provide plaintiffs with any recourse, remedy, or alternative—its decision was final and unequivocal,” the lawsuit claims.

Trump’s attorney alleges the move was driven by ideology, stating they are “confident that JPMC’s unilateral decision came about as a result of political and social motivations, and JPMC’s unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views.”

“In essence, JPMC debanked plaintiff’s accounts because it believed that the political tide at the moment favored doing so,” the lawsuit states. “In addition to the considerable financial and reputational harm that Plaintiffs and their affiliated entities suffered, JPMC’s reckless decision is leading a growing trend by financial institutions in the United States of America to cut off a consumer’s access to banking services if their political views contradict with those of the financial institution.”

The complaint further claims that JPMorgan and Dimon engaged in a broader industry practice, alleging that “JPMC’s conduct, in violation of its code of conduct and Dimon’s lofty assertions, is a key indicator of a systemic, subversive industry practice that aims to coerce the public to shift and re-align their political views.”

The lawsuit also accuses JPMorgan Chase of placing Trump and his affiliated entities on a banking “blacklist,” allegedly shared among federally regulated banks.

“Given that Plaintiffs have always complied with all applicable banking rules and regulations and their wealth management accounts were in good standing, JPMC’s publication of President Trump, the other Plaintiffs, the Trump Organization and its affiliated entities, and/or the Trump family’s names on this blacklist, is an intentional and malicious falsehood,” the lawsuit states, alleging JPMorgan engaged in “an unfair and deceptive trade practice” by publishing the names and knowingly inducing other banks to avoid doing business with them.

Trump is suing for trade libel, violations of Florida’s unfair and deceptive trade practices act, declaratory relief, and breach of the implied covenant of good faith and fair dealing. His legal team is also demanding a jury trial.

The lawsuit further references a similar move by Capital One. On March 8, 2021, Capital One allegedly notified Trump and his entities that hundreds of accounts would be closed by June 7, 2021, again without providing any “recourse, remedy, or alternative.”

At the time, a Capital One spokesperson told Fox News Digital: “Capital One has not and does not close customer accounts for political reasons.”

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