The Globe and Mail reports in its Friday, Jan. 23, edition that President Donald Trump has filed a $5-billion (U.S.) lawsuit against JPMorgan and its chief executive officer Jamie Dimon, accusing the lender of debanking him by closing accounts for political reasons. A Reuters dispatch to The Globe reports that the lawsuit filed in Miami Dade County, Fla., said JPMorgan violated its own policies by singling him out, to ride the "political tide" by terminating several of his accounts. JPMorgan said "the suit has no merit." The lender said it does not close accounts for political or religious reasons. "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," the bank said. Mr. Trump's lawsuit claims JPMorgan violated its principles by unilaterally terminating his and his hospitality companies' bank accounts without warning or remedy. "Plaintiffs also suffered extensive reputational harm by being forced to reach out to other financial institutions in an effort to move their funds and accounts, making it clear that they had been debanked by JPMC," the filing said.