Capital One Financial has disclosed that it closed hundreds of bank accounts linked to the Trump Organization in 2021 following an internal review by its anti-money laundering team. The bank revealed this information in a recent court filing as it seeks to dismiss a lawsuit brought by the Trump Organization. The company’s legal challenge alleges that the bank engaged in illegal “debanking”—the practice of closing accounts for political or religious reasons—following the January 6, 2021, attack on the U.S. Capitol.
In its filing, Capital One stated that the decision to terminate the accounts was the result of months of analysis by professionals with extensive law enforcement experience. The bank noted that it identified specific transaction patterns that triggered a review in accordance with federal banking guidance and internal policies. While the bank has not accused the Trump Organization of any specific illegal activity, it maintains that the closures were a standard risk-management procedure rather than a politically motivated act.
The bank further emphasized that it did not publicize the decision at the time and provided the Trump Organization with several months to secure alternative banking services. This legal battle is part of a broader series of lawsuits filed by the president and his business interests since he returned to the White House. As the case proceeds, the court will weigh the bank's right to manage its own risk against the plaintiff's claims of discriminatory business practices.