India, Jan. 23 -- President Donald Trump has sued JPMorgan and its CEO, Jamie Dimon, it was revealed on Thursday. The 79-year-old and other plaintiffs in the case are seeking at least $5 billion. The American multinational banking institution, headquartered in New York City, responded to the suit, saying it has no merit.

Trump and other plaintiffs allege that the bank closed their accounts in early 2021 after decades of being customers of the bank for political reasons. The closures came after the January 6, 2021, riot by Trump supporters at the US Capitol after Joe Biden was confirmed.

"Plaintiffs are confident that JPMC's unilateral decision came about as a result of political and social motivations, and JPMC's unsubstantiated, 'woke'...