Capital One says it closed Trump Organization’s accounts after anti-money-laundering review
Summary
Capital One says it closed more than 300 bank accounts linked to the Trump Organization in 2021 after a review by experts focused on preventing money laundering. The bank is asking a court to dismiss a lawsuit filed by the Trump Organization that claims the account closures were politically motivated.Key Facts
- Capital One closed Trump Organization accounts following a review by anti-money-laundering (AML) experts.
- The bank never directly accused the Trump Organization of money laundering.
- The closure decision was based on patterns flagged by federal banking rules.
- The Trump Organization and Eric Trump sued Capital One in 2025, claiming the closures were due to political bias after the January 6, 2021 Capitol riot.
- Capital One disputes these claims and says the lawsuit uses selected quotes out of context.
- President Trump signed an order in August 2025 to stop banks from denying services for political reasons.
- In January 2026, President Trump filed a similar lawsuit against JPMorgan Chase.
- In 2019, President Trump sued Capital One and Deutsche Bank to stop them sharing financial records with Congress.
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