Capital One Targets Trump Organization in Politically Charged Account Closures
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Capital One claims it shut over 300 Trump Organization accounts in 2021 after an anti-money-laundering review, but faces a lawsuit alleging the move was a politically motivated attack.
Capital One Financial has admitted to closing more than 300 accounts linked to the Trump Organization in March 2021, citing an internal anti-money-laundering (AML) review as its justification. The bank insists that its decision was the result of 'months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance,' and claims that the transaction patterns matched those flagged by federal banking guidance.
However, the Trump Organization and its subsidiary have filed a lawsuit in March 2025 in a Florida federal court, arguing that the closures were a direct result of Capital One’s political bias in the wake of the January 6, 2021 Capitol protest. Capital One has dismissed these allegations as 'misguided,' accusing the plaintiffs of relying on selective quotations that do not represent the full context of the documents submitted to the court.
While Capital One has not formally accused the Trump Organization of money laundering, it maintains that the plaintiffs’ own statements and the bank’s internal records prove the closures were AML-related. Both parties have declined to comment further.
This dispute is part of a larger trend of major banks targeting conservative figures, as seen in a separate lawsuit filed by President Trump against JPMorgan Chase for similar debanking practices. The ongoing conflict highlights the increasing weaponization of the financial system against political opponents.