Capital One says Trump Organization accounts were closed after AML review
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Capital One argues that it shut more than 300 Trump-affiliated accounts in 2021 following an anti-money-laundering assessment, and seeks to dismiss a lawsuit alleging politically motivated debanking.
Capital One Financial disclosed that it closed over 300 accounts linked to the Trump Organization in March 2021 after an internal anti-money-laundering (AML) review. The bank says the decision was based on "months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance," and that the transaction patterns identified matched those flagged by federal banking guidance.
The Trump Organization and its subsidiary filed a lawsuit in March 2025 in a Florida federal court, claiming the closures were driven by the bank’s political stance following the January 6, 2021 Capitol riot. Capital One called the allegations "misguided" and said they rely on selective quotations that do not reflect the full context of the documents submitted to the court.
Capital One has not accused the Trump Organization of money laundering, but it argues that the plaintiffs’ own allegations and the bank’s internal documents demonstrate that the account closures were AML-related. Both parties have not responded to requests for comment.
The case comes amid broader disputes between the Trump administration and major banks, including a separate lawsuit filed by the former president against JPMorgan Chase alleging similar debanking practices.