JPMorgan’s Debanking Fight Is a Problem Washington Created

President Donald Trump is suing JPMorgan Chase & Co. and Chief Executive Officer Jamie Dimon for $5 billion for political discrimination. The bank and the wider industry should welcome the fight. A court case could finally kill off the cynical and fatuous claims that ideologically driven “debanking” is a thing at all.

It’s unlikely to get that far, unfortunately. The suit is so thin that there’s a high chance it will get dismissed — a 70% likelihood, according to Bloomberg Intelligence’s litigation specialist Elliott Stein. So, as interesting as it might be to read the disclosure around what made Trump such a risky financial prospect, don’t break out the popcorn just yet.