Capital One cites anti-money laundering concerns in Trump Organization case
Summary
Capital One closed more than 300 bank accounts linked to the Trump Organization in 2021 after a review by its anti-money laundering team. The Trump Organization and Eric Trump sued Capital One, claiming the closures were politically motivated, but Capital One says it acted for legal reasons and wants the case dismissed.Key Facts
- Capital One closed over 300 Trump Organization-related bank accounts in 2021.
- The bank's anti-money laundering (AML) team reviewed the accounts before closing them.
- The Trump Organization and Eric Trump sued Capital One in 2025, saying the closures were for political reasons.
- Capital One denies political motives and says the closures followed federal rules and careful analysis.
- The court dismissed two previous complaints but allowed amended complaints to be filed.
- Capital One argues the Trump Organization’s claims are based on selective quotes and misunderstandings.
- Federal law may prevent banks from sharing certain information about suspicious transactions.
- President Trump has taken steps against what he calls political discrimination by banks, including suing JPMorgan Chase.
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