President Donald Trump filed a $5 billion lawsuit Thursday against JPMorgan Chase and its CEO, Jamie Dimon, for alleged political debanking.

Trump filed the complaint in Miami-Dade County state court, accusing JPMorgan of trade libel and breach of implied covenant of good faith and fair dealing, court documents show. Trump also accused Dimon of violating Florida’s unfair and deceptive trade practices act.

“Debanking is a matter of public interest and significant importance to all consumers and businesses in the United States of America — and JPMC, especially given its storied and leading history, is a central actor in this ongoing and troubling saga,” according to the complaint.

Trump and several of his affiliate companies were JPMorgan customers for decades before the bank “without warning or remedy” told him on Feb. 19, 2021 that several of his accounts would be closing two months later.

Because JPMorgan “unilaterally debanked Plaintiffs by terminating Plaintiffs’ Accounts, Plaintiffs suffered considerable financial harm and losses caused not only by the interruption to their access to JPMC’s banking services, but also by the devastating impact on Plaintiffs’ ability to transact and access their monies, and by having to enter into less favorable business arrangements with other financial institutions,” the lawsuit alleged.

Trump also suffered “extensive reputational harm” by being forced to reach out to other banks to move funds and accounts, making it clear that he and his companies had been debanked by JPMorgan, the lawsuit contends.

Additionally, Trump alleged that the bank published his name and names of his affiliates on a blacklist it shares with other federally regulated banks of individuals with “a history of malfeasant acts” or non-compliance with banking rules and regulations.

Dimon’s alleged violation of Florida’s unfair and deceptive trade practices act happened when he approved Trump’s name on the blacklist, the lawsuit alleged.

Trump shared a Fox Business story reporting the lawsuit on his Truth Social page Thursday.

Trump said Jan. 17 that he intended to sue Dimon and JPMorgan for allegedly debanking him in connection with the Jan. 6, 2021, U.S. Capitol riot.

Trump’s attorney, Alejandro Brito, did not immediately respond to a request for comment. The Trump Organization and White House also did not respond to a request for comment.

“While we regret President Trump has sued us, we believe the suit has no merit,” a JPMorgan spokesperson told Banking Dive on Thursday. “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,” the spokesperson said. “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.”

The president similarly sued Capital One – in the same Florida court – last March over debanking allegations tied to the Capitol riot. 

Last year, he publicly accused Bank of America of debanking conservatives. While CEO Brian Moynihan denied Trump’s claims, he suggested they stoked regulatory dialogue.