Capital One says AML review prompted closure of Trump Organization accounts
Capital One Financial filed a court document stating that it closed more than 300 bank accounts linked to the Trump Organization in March 2021 after an internal anti‑money‑laundering (AML) review. The filing marks the first time a U.S. bank has formally tied AML concerns to President Donald Trump’s family business.
The Trump Organization and its chief executive’s son, Eric Trump, sued the bank in March 2025 in a federal court in Miami, alleging the closures were politically motivated “debanking” following the Jan. 6, 2021 Capitol riot. Capital One seeks dismissal, calling the allegations “misguided” and saying the decision was based on transaction patterns flagged by federal banking guidance, not on the bank’s “woke” beliefs. Earlier complaints were dismissed but the plaintiffs were allowed to amend their filings. The bank also noted that President Trump’s 2025 executive order bars discriminatory debanking.
Capital One emphasizes that it never accused the Trump Organization of illegal money laundering, and that its AML team’s analysis complied with bank policies and regulatory standards.
Entities: Capital One Financial · Capital One Financial Corp · Capital One Financial Corp. · Donald Trump · Eric Trump · Trump Organization · U.S. District Court for the Southern District of Florida · U.S. Federal Court (Miami) · United States District Court for the Southern District of Florida (Miami)
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 11 SOURCES] The Trump Organization and Eric Trump filed a lawsuit in March 2025 in a Florida federal court alleging the closures were politically motivated. (lawsuit filing)
- [● 11 SOURCES] President Donald Trump signed an executive order in August 2025 barring discriminatory debanking. (executive order)
- [● 11 SOURCES] Capital One has never accused the Trump Organization of illegal money laundering. (Capital One filing)
- [● 11 SOURCES] Capital One described the political‑pretext allegations as “misguided” and based on cherry‑picked quotations. (Capital One filing)
- [● 11 SOURCES] The closures were based on an anti‑money‑laundering (AML) review by Capital One's AML team. (Capital One filing)
- [● 11 SOURCES] Capital One closed more than 300 Trump‑affiliated bank accounts in March 2021. (Capital One filing)
- [● 11 SOURCES] The transaction patterns identified by Capital One were among types flagged by federal banking guidance. (Capital One filing)
- [● 11 SOURCES] The US federal court in Miami dismissed two complaints in the case but allowed the plaintiffs to file amended complaints. (court rulings)