Capitol One says it closed over 300 Trump-related accounts over AML concerns

Capitol One has answered a lawsuit brought by the Trump Organization and Eric Trump over the bank's decision to close hundreds of accounts tied to the family's business, saying the measure followed a detailed anti-money-laundering review.

Bank seeks dismissal, says decision predated political debate

The Trump Organization and Eric Trump filed their lawsuit in March 2025, alleging the accounts were closed for political discrimination and in response to the events of January 6, 2021. The complaint argues the bank denied services because of the organization's political views.

In its court filing, Capitol One rejects those claims and says the plan to close more than 300 accounts connected to the Trumps was adopted in March 2021. The bank is now asking the court to dismiss the lawsuit and disputes that it refused services for religious or political reasons.

Capitol One does not directly accuse the Trump Organization of money laundering, but in the filing the bank contends that "the plaintiffs' own documents and allegations plainly show that Capitol One closed the accounts for reasons related to preventing money laundering."

In the same submission the bank adds that "The accounts were closed after several months of analysis and careful verification by the bank's anti-money-laundering team, all in accordance with internal policies and regulator guidance." Capitol One also notes that the transaction patterns it identified fall into categories warned about by federal banking guidance.

The exchange of filings highlights one of the first occasions a U.S. bank has explicitly tied suspicions about money laundering to business activities connected with the former president's family; the dispute over the closures will now proceed through the courts.

Photo: profimedia / Facebook