Capital One Financial has defended its decision to close hundreds of Trump Organization bank accounts, arguing in a court filing that the action followed a lengthy anti-money-laundering review rather than political considerations.
The filing marks the first time a financial institution has formally linked anti-money-laundering concerns to the Trump family business in a legal proceeding. Capital One is seeking dismissal of a lawsuit filed by the Trump Organization and Eric Trump, who allege the bank unfairly denied services because of political motivations.
According to court documents submitted on Friday, Capital One said the account closures resulted from an extensive review conducted by its anti-money-laundering specialists.
The bank stated that months of analysis were carried out in accordance with internal policies and regulatory guidance before a decision was made.
Capital One emphasized that it has never accused the Trump Organization of engaging in money laundering.
However, the bank argued that records and allegations presented in the lawsuit demonstrate that the accounts were closed for anti-money-laundering reasons rather than political ones.
The legal dispute centers on more than 300 Trump-affiliated bank accounts that Capital One notified customers it intended to close in March 2021.
The closures occurred shortly after the January 6, 2021, riot at the US Capitol, a period that saw increased scrutiny of businesses and organizations linked to then-former President Donald Trump.
In March 2025, the Trump Organization and Eric Trump filed a lawsuit in federal court in Florida.
The complaint alleged that Capital One acted because of what the plaintiffs described as the bank’s political beliefs and its desire to align with public sentiment following the Capitol events.
The lawsuit claimed the account closures represented a form of discriminatory debanking.
Debanking refers to a financial institution’s decision to terminate banking services for an individual or organization. Critics argue that such actions can sometimes be influenced by political, ideological or reputational considerations.
Capital One rejected those allegations in its latest filing.
The bank described the claims as misguided and argued that they relied on selective interpretations of internal documents without considering their full context.
According to the filing, transaction patterns observed by the bank fell within categories that federal banking regulators often identify as requiring additional scrutiny.
Capital One maintained that its actions were based on compliance responsibilities rather than political viewpoints.
The case comes at a time when debates over banking practices and alleged political discrimination have become more prominent in the United States.
Since returning to office for a second term, President Donald Trump has increased pressure on major financial institutions over accusations that some banks are targeting conservative individuals and organizations.
In August 2025, Trump signed an executive order aimed at preventing discriminatory debanking practices.
Supporters of the measure argue that financial institutions should not deny services based on political beliefs or affiliations.
Banks, however, continue to emphasize their legal obligations to monitor transactions, manage risk and comply with anti-money-laundering regulations.
The Capital One lawsuit is not the only banking-related legal dispute involving Trump.
Earlier this year, Trump also filed a lawsuit against JPMorgan Chase, alleging similar concerns regarding access to banking services.
The cases highlight growing tensions between financial institutions and political leaders over how compliance, risk management and customer access should be balanced.
The current dispute also follows previous legal battles involving Trump’s financial records.
In 2019, during his first term as president, Trump sued Capital One and Deutsche Bank in an effort to block the release of financial information requested by congressional investigators.
Those investigations were part of broader inquiries led by Democratic lawmakers.
Deutsche Bank has also faced attention over its historical relationship with Trump-related businesses.
Reports previously suggested that anti-money-laundering specialists at the bank had raised concerns about certain transactions. Deutsche Bank denied those reports at the time.
For now, the focus remains on the Florida lawsuit and Capital One’s effort to have the case dismissed.
The Trump Organization and Capital One had not publicly commented on the latest court filing immediately after it was submitted.
As the legal proceedings continue, the case is expected to draw further attention to the broader debate surrounding banking regulations, anti-money-laundering compliance and claims of political discrimination within the financial sector.
