Capital One Closes Trump Organization Accounts Over Money Laundering Concerns
Capital One Financial disclosed it closed over 300 Trump Organization accounts in March 2021 after a months-long anti-money laundering (AML) review flagged suspicious transaction patterns. The bank publicly linked money laundering concerns to Donald Trump’s family business for the first time, arguing the closures followed standard federal guidance. The Trump Organization and Eric Trump sued in 2025, alleging political bias tied to the January 6 Capitol riot. Capital One seeks dismissal, citing legitimate AML procedures. The case reflects broader tensions between Trump’s administration and banks over alleged politically motivated debanking.
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Capital One had 300 Trump accounts — then its money-laundering team stepped in
A Fortune/AP report reveals that Capital One maintained approximately 300 accounts linked to former President Donald Trump before its anti-money-laundering (AML) team initiated a months-long review that ultimately led to the closure of those accounts. The bank filing explicitly states that the decision was based on AML compliance concerns, not political motivations. The article highlights the scale of Trump's banking relationship with Capital One and the internal process that triggered the account terminations.
Capital One Says It Closed Trump Organization Accounts After Anti-Money Laundering Review
Capital One has stated in court documents that it closed roughly 300 Trump Organization bank accounts in 2021 following a months-long anti-money laundering (AML) review. The bank filed a motion to dismiss a lawsuit brought by the Trump Organization in March 2025, which alleged the closures were politically motivated due to the January 6, 2021 Capitol riot. Capital One asserts the decision was based on transaction patterns flagged by federal banking guidance, though it has not accused the Trump Organization of illegal money laundering. The bank also noted the Trump Organization secured banking services elsewhere promptly. The Trump Organization's legal team maintains the closure was politically driven and vows to continue the lawsuit. The court has previously dismissed two versions of the complaint but allowed amendments.
Capital One Seeks Dismissal of Trump Lawsuit Over Account Closures, Citing Money Laundering Concerns
Capital One Financial has asked a federal judge to dismiss a lawsuit filed by President Donald Trump's trust regarding the closure of Trump Organization-affiliated accounts several years ago. In a court filing on Friday, Capital One's lawyers argued that the accounts were closed only after external experts flagged potential money laundering concerns. The lawsuit, brought by the trust led by Donald Trump Jr. and Eric Trump, challenges the bank's decision. Capital One maintains its actions were legally justified and based on standard anti-money laundering protocols. The case highlights ongoing legal battles between the Trump family business and financial institutions over account terminations following the January 6, 2021 Capitol riot and subsequent scrutiny of Trump-related financial dealings.
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Capital One Closes Trump Organization Accounts After Money Laundering Review
Capital One Financial Corp has closed bank accounts held by the Trump Organization following a review of potential money laundering risks, according to a report by The Hill. The decision, which was not publicly announced by the bank, came after an internal assessment flagged concerns related to the organization's financial transactions. The Trump Organization, the business entity of former President Donald Trump, had maintained accounts with Capital One for several years. The closure reflects ongoing scrutiny of Trump-related businesses by financial institutions, particularly after the January 6 Capitol riot and subsequent investigations into the Trump Organization's financial practices. Capital One did not provide specific details on the review or the exact reasons for the account closures, but the move aligns with broader trends of banks reassessing relationships with politically exposed persons and high-risk clients. The Trump Organization has not publicly commented on the account closures.
Capital One says it closed Trump Organization's accounts after anti-money laundering probe
Capital One Financial has responded to a lawsuit from the Trump Organization by stating that it closed more than 300 Trump-affiliated bank accounts in March 2021 following a thorough anti-money laundering (AML) review. This is the first instance of a bank formally linking money laundering concerns to President Donald Trump's family business. The Trump Organization and Eric Trump filed suit in March 2025, alleging the closures were politically motivated due to Capital One's 'woke' beliefs after the January 6 Capitol riot. Capital One is seeking dismissal, arguing the allegations are 'misguided' and that the account closures were based on transaction patterns flagged by federal banking guidance. The case highlights ongoing tensions between the Trump administration and major banks over accusations of discriminatory debanking against political conservatives.
Capital One says it closed Trump Organization accounts after anti-money laundering probe
Capital One Financial has formally stated that it closed the Trump Organization's bank accounts in March 2021 following a months-long anti-money laundering (AML) review, marking the first time a bank has publicly tied money laundering concerns to President Donald Trump's family business. The disclosure came in a court filing seeking to dismiss a lawsuit filed by the Trump Organization and Eric Trump in March 2025, which alleged the accounts were closed due to Capital One's 'woke' political beliefs and the aftermath of the January 6 Capitol riot. Capital One argued the allegations were 'misguided' and that the closures followed standard AML procedures and federal banking guidance. The case is part of a broader pattern of Trump's second-term administration pressuring banks over claims of politically motivated debanking, including an executive order signed in August 2025 and a separate lawsuit against JPMorgan Chase.