Capital One Says Anti-Money Laundering Review Led to Closing Trump Organization Accounts

Capital One has responded to a lawsuit over its decision to close more than 300 Trump affiliated bank accounts, stating the closures followed a careful review by its anti-money laundering team rather than political motivations. The filing marks the first time a bank has formally linked money laundering concerns to the Trump Organization, though Capital One has not accused the company of actual illegal activity.

Lawsuit Alleges Politically Motivated Closures

The Trump Organization and Eric Trump filed suit in March 2025 in a Florida federal court, claiming Capital One closed the accounts due to political bias following the January 6, 2021 Capitol riot. Capital One first notified the Trump Organization of its plans to close the accounts in March 2021, and in Friday’s filing called the political pretext allegations “misguided” and based on incomplete context from submitted documents.

Court Has Dismissed Earlier Complaints

A Miami federal court has already tossed two previous versions of the complaint but allowed the plaintiffs to file amended versions each time. Capital One argued the latest filing, submitted in July, repeats the same fundamental issues as its predecessors, adding that the transaction patterns it identified matched activity flagged under federal banking guidance.

Part of a Broader Banking Dispute

The case comes amid ongoing tension between the Trump administration and major banks over debanking practices. Trump signed an executive order in August 2025 barring discriminatory account closures and separately sued JPMorgan Chase in January on similar grounds, reflecting a broader pattern of scrutiny facing financial institutions during his second term.