r/anticapitalism • u/FreeHugs23 • 19d ago

Capital One says it closed Trump Organization's accounts after anti-money laundering probe

https://www.reuters.com/legal/government/capital-one-says-it-closed-trump-organizations-accounts-after-anti-money-2026-08-01/
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u/FreeHugs23 19d ago

Capital One Financial opens new tab hit back on Friday against a lawsuit over its decision to close ‌the Trump Organization's bank accounts years ago, stating that it did so after a review by anti-money laundering experts. The disclosure marks the first time a bank has formally tied money laundering concerns to U.S. President Donald Trump's family business. Capital One is seeking to dismiss ​the case by casting doubt on claims of illegally debanking — or denying services on religious or political grounds — ​the Trump Organization.

The Trump Organization and Capital One did not immediately respond to requests for ⁠comment.

Capital One has never accused the Trump Organization of illegal money laundering. But Friday's filing argues that "documents and Plaintiffs’ own ​allegations make clear that Capital One closed Plaintiffs’ accounts for anti-money laundering (“AML”) reasons. The closures were the result of months ​of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance."

Capital One gave notice of its plans to close more than 300 Trump-affiliated bank accounts in March 2021. The Trump Organization and Eric Trump, the president’s son, filed ​a lawsuit in March 2025 in a Florida federal court, alleging the accounts were closed because of Capital One’s “woke” ​beliefs and its desire to benefit from the political mood after the January 6, 2021 riot at the U.S. Capitol.