Capital One says it closed Trump-linked accounts over anti‑money‑laundering concerns
Capital One disclosed that it shut down roughly 300‑plus bank accounts belonging to Donald Trump, the Trump Organization and related entities in 2021 after a months‑long internal anti‑money‑laundering (AML) review. The bank said the closures were driven by AML risk indicators and complied with its policies and regulatory guidance, not by political considerations or the Jan. 6 Capitol riot.
The Trump Organization and Eric Trump have sued Capital One, alleging partisan “debanking.” Capital One has moved to dismiss the lawsuit, arguing that its actions were standard compliance measures. The filing includes the statement, “The closures were the result of months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance.”
A parallel dispute involves JPMorgan Chase, which also closed Trump‑related accounts and faces a separate $5 billion lawsuit alleging political discrimination. The number of accounts closed is contested: plaintiffs claim about 385 accounts, while Capital One references “more than 300.” The case could shape how U.S. banks disclose compliance‑driven account terminations and the broader debate over alleged partisan debanking.
Entities: Capital One · Capital One Financial Corporation · Donald J. Trump · Donald Trump · Eric Trump · JPMorgan Chase & Co. · Trump Organization
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 4 SOURCES] JPMorgan Chase also closed Trump‑related accounts and faces a $5 billion lawsuit alleging political discrimination. (JPMorgan Chase)
- [● 3 SOURCES] Capital One filed a motion to dismiss the lawsuit brought by the Trump Organization and Eric Trump. (Capital One)
- [● 2 SOURCES] Capital One did not accuse the Trump Organization of money laundering, only said there were AML concerns. (Capital One)
- [● 3 SOURCES] The number of accounts closed is disputed: plaintiffs say about 385, while Capital One references “more than 300.” (Plaintiffs/Capital One)
- [● 2 SOURCES] The closures were the result of months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance. (Capital One filing)
- [● 4 SOURCES] Capital One closed more than 300 accounts linked to Donald Trump and his businesses in 2021 after an anti‑money‑laundering review. (Capital One)
- [● 3 SOURCES] Donald Trump and his affiliates sued Capital One alleging political “debanking.” (Trump organization)
- [● 3 SOURCES] Capital One says the closures were due to AML concerns, not political reasons or the Jan. 6 Capitol riot. (Capital One)