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Capital One moves to dismiss Trump Organization account lawsuit
Capital One said it closed more than 300 Trump-affiliated accounts after an anti-money laundering review, and is challenging claims that the closures were driven by politics or “woke” beliefs.
Capital One Financial is seeking to dismiss a lawsuit brought by the Trump Organization over the bank’s decision to close the Trump family business’s accounts years ago, arguing the action was tied to anti-money laundering reviews rather than political motives, Reuters reported. In court filings referenced by Reuters, Capital One said it closed the accounts after months of analysis and a review by its anti-money laundering team in line with bank policies and regulatory guidance. The bank also said it has never accused the Trump Organization of illegal money laundering, while arguing that the plaintiffs’ own allegations and documents show the closures were for AML reasons.
Capital One is also contesting the Trump Organization’s attempt to characterize the decision as “debanking,” or denying services on religious or political grounds. The bank said the plaintiffs’ claims of political pretext are based on selective quotations that do not reflect the full context of material submitted to the court.
The account closures were first announced in March 2021, when Capital One gave notice it would close more than 300 Trump-affiliated accounts. Reuters also noted that the Trump Organization and Eric Trump filed the lawsuit in March 2025 in federal court in Florida, and that the Miami court previously tossed two complaints while allowing amended filings.