Capital One closed Trump Organization accounts after anti-money-laundering review

Capital One stated in a recent court filing that it closed over 300 accounts associated with the Trump Organization in March 2021 following an extensive internal review related to anti-money laundering (AML) concerns. This marks the first time a bank has formally attributed the closure of Trump Organization accounts to AML issues in a legal setting. The bank maintains that its decision was based on compliance and risk assessment procedures, not political motivations, after specialists examined transaction patterns identified during the review.

The disclosure by Capital One comes as part of its defense against a lawsuit filed by the Trump Organization and Eric Trump in March 2025. The lawsuit alleges that Capital One terminated the banking relationship due to "woke" beliefs and to align with the political climate following the January 6, 2021, attack on the U.S. Capitol. Capital One is seeking to dismiss the suit, asserting that the allegations of political bias are unfounded and based on selective interpretations of evidence.