Capital One: Closed Trump Organization accounts in 2021 after AML review

Published Aug 1, 11:18 PM UTC

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.