In March of 2021, shortly after January 6, Capital One Financial closed hundreds of Trump Organization-related accounts. In 2025, the Trump Organization and Eric Trump filed a lawsuit, accusing the financial institution of doing so for “woke” reasons.
Now, Capital One has defended itself, claiming it did so after a review by anti-money laundering experts, Reuters reported.
The new filing, on Friday, stated that ” 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.”
The courts had tossed two earlier complaints, and Capital One stated that the latest version “suffers from the same fundamental flaws as their prior two pleadings.” The second of those was dismissed in March,
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“In a win for banks fighting allegations of political discrimination, a judge threw out a lawsuit that President Donald Trump’s family business brought against Capital One Financial, though the case can still be refiled,” American Banker reported at the time. “U.S. District Judge Roy Altman said Friday that he would grant Capital One’s motion to dismiss the lawsuit. The suit alleges that the McLean, Virginia-based company illegally closed hundreds of Trump Organization accounts following the Jan. 6, 2021, attack on the U.S. Capitol.”
Capital One said in a court filing late Friday that it closed accounts belonging to President Donald Trump’s sprawling real estate company in 2021 for legitimate reasons after an internal review by the bank’s anti-money laundering team. https://t.co/OIS1fsSBws
— Bloomberg (@business) August 1, 2026
The Capital One complaint this week also called the Trump Organization’s complaint “misguided” and “based on cherry-picked quotations unsupported by the full context… The transaction patterns identified by Capital One are among the types of activity flagged by federal banking guidance.”
Trump had also sued JPMorgan Chase on similar grounds, while also signing an executive order forbidding what he called “discriminatory debanking,” Reuters reported.
At the same time, Trump nominated Brian Johnson, a senior executive at Capital One, as the head of the U.S. Consumer Financial Protection Bureau, and he agreed to recuse himself from agency matters related to the institution.
Photo courtesy of the Political Tribune media library.
