Capital One requested a federal judge dismiss a lawsuit from the Trump Organization regarding the closure of hundreds of bank accounts in 2021. The bank stated the decision followed an anti-money-laundering review rather than political motives.
The motion, filed in a Florida court, explained that its financial-crimes team analyzed transaction patterns for months before terminating accounts tied to the Trump family’s business. The team includes employees with decades of law enforcement experience.
Bank says compliance concerns drove decision
Capital One’s attorneys stated the closure was a response to suspicious activity, not retaliation for the January 6 attack on the U.S. Capitol as the Trump Organization claimed. Filings described the review as a careful process, though some records indicate the organization had little time to respond before accounts were frozen or closed.
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The bank called the Trump Organization’s claims “cherry-picked quotations unsupported by the full context” of internal records. It never publicly disclosed the reason for the closures, maintaining confidentiality. The organization had months to move funds before termination.
Federal banking guidance flags certain transaction patterns as potential money-laundering risks. Lawyers emphasized the decision was independent of political events, though the timing—weeks after January 6—raised questions.
The organization maintains Capital One invented the money-laundering rationale to distance itself from the former president after January 6. The bank countered that the lawsuit lacks evidence to dispute its explanation.
Broader tensions between banks and the Trump administration
The dispute reflects ongoing friction between the Trump administration and major banks. Since 2025, the administration has accused financial institutions of discriminating against conservative clients, a claim banks reject.
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In August 2025, Trump signed an executive order banning discriminatory banking practices. Earlier this year, his administration sued JPMorgan Chase over similar allegations. Capital One’s case fits this pattern, though the bank insists compliance—not politics—guided its actions.
Details of the transaction patterns that triggered the review remain undisclosed. It is unclear what, if any, steps the Trump Organization took to address the bank’s claims prior to filing suit. The shutdown affected hundreds of accounts, disrupting operations.
The motion to dismiss marks another step in a legal battle that could influence how banks handle high-profile clients under scrutiny.
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