Capital One Financial closed over 300 bank accounts linked to the Trump Organization in March 2021 following a review by its anti-money laundering (AML) team [1, 2, 3, 4]. The bank disclosed for the first time on July 31, 2026, in court documents that the closures were related to AML concerns, though it did not accuse the Trump Organization of illegal money laundering [1, 2, 3, 5, 4].
The Trump Organization and Eric Trump sued Capital One in March 2025 in a federal court in Florida. They claimed the closures were politically motivated and part of a broader trend of banks targeting conservative clients after the January 6, 2021 attack on the US Capitol [1, 2, 3, 4].
Capital One is seeking dismissal of the lawsuit. It says the account closures followed months of careful AML analysis consistent with bank policies and federal regulatory guidance, denying any political or religious bias [1, 2, 3, 5, 4]. A spokesperson stated, "documents and Plaintiffs’ own allegations make clear that Capital One closed Plaintiffs’ accounts for anti-money laundering ("AML") reasons. 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" [1].
The bank further called the Trump Organization’s claims "misguided and based on cherry-picked quotations unsupported by the full context of documents submitted to the court" [2]. Capital One said the suspicious transaction patterns triggering the AML review matched those flagged by federal banking guidance [5].
Federal courts in Miami dismissed two complaints from the Trump Organization related to the case but allowed amended complaints to be filed. Capital One says the latest amended complaint continues to suffer from "fundamental flaws" [1, 2, 3, 4].
Since Donald Trump’s second term, his administration pushed back against what it viewed as financial institutions targeting conservatives. In August 2025, Trump signed an executive order banning discriminatory account closures by banks [1, 4].
The lawsuits and related filings continue to unfold in federal court as both sides present competing narratives over the motivations behind Capital One’s account closures.
