By Trendsetter Tribune 
Corporate America has always known the rule: stay in your lane, smile and nod, and don’t become a target under Donald Trump. CEOs have largely followed it, even as the second Trump administration shook up tariffs, pressed the Federal Reserve, and threatened private companies over perceived slights.
But Wall Street finally hit a breaking point. Trump’s recent “affordability” proposal to cap credit card interest rates at 10% struck at the heart of banks’ profits. And this time, executives spoke up—loudly and publicly.
JPMorgan Chase CEO Jamie Dimon called the plan “an economic disaster” at the World Economic Forum in Davos. Citigroup’s Jane Fraser and Bank of America’s Brian Moynihan also chimed in, warning that a rate cap could constrict credit and hurt consumers.
Trump didn’t take kindly to the criticism. On Thursday, he filed a $5 billion lawsuit against JPMorgan and Dimon, claiming he was improperly “debanked” after the January 6, 2021 Capitol riot. The filing came just one day after Dimon’s Davos comments.
The clash highlights how Trump has long weaponized his power against perceived adversaries. From investigating media companies to threatening Apple and Exxon, Trump’s second term has made CEOs cautious, even when policies directly hit their bottom line. But this latest credit card cap? Wall Street drew a line in the sand.
Dimon has had a rocky history with Trump. In 2018, he jokingly said he could beat Trump in a head-to-head race, prompting an online roasting from the former president. Now, after years of tiptoeing around him, Dimon’s Davos remarks may have crossed the line—and triggered one of the most high-profile corporate lawsuits of the Trump era.
In short: Wall Street rarely speaks up, but when profits are on the line, even the most cautious CEOs might finally say “enough.” And Trump’s legal response? Just the latest chapter in the ongoing battle between the president and America’s financial titans.