Capital One says it closed Trump Organization’s accounts after anti-money-laundering review

Key Points:

• Capital One defended its decision to close over 300 Trump Organization bank accounts in 2021, stating the move followed a thorough anti-money-laundering (AML) review by experts, and seeking dismissal of a related lawsuit.
• This marks the first formal instance where a bank has linked money-laundering concerns to the Trump family business, although Capital One has not accused the Trump Organization of actual money laundering.
• The Trump Organization and Eric Trump sued Capital One in 2025, alleging the account closures were politically motivated and part of a "woke" agenda following the January 6 Capitol riot, claims Capital One disputes as based on selective evidence.
• The case unfolds amid broader tensions, with Trump previously suing JPMorgan Chase and other banks over alleged politically driven "debanking," and his administration issuing an executive order against discriminatory banking practices in 2025.
• Past reports indicated Deutsche Bank flagged suspicious transactions related to the Trump Organization, but the bank denied acting on these alerts, highlighting ongoing scrutiny of Trump’s financial dealings by major banks.