Capital One reveals anti-money laundering review led to closure of Trump Organization accounts in 2021

Aug 2, 2026

Capital One Financial has formally linked its 2021 closure of over 300 Trump Organization bank accounts to an internal anti-money laundering review, marking the first time a bank has tied such concerns to Donald Trump's family business. Capital One is seeking to dismiss a March 2025 lawsuit filed by the Trump Organization and Eric Trump, who allege they were illegally debanked for political reasons following the January 6, 2021, Capitol riot. The legal battle occurs as the Trump administration intensifies pressure on Wall Street over alleged political discrimination.

Capital One account closures

▪Capital One Financial gave notice in March 2021 of its plans to close more than 300 bank accounts affiliated with the Trump Organization.
▪The closure of the Trump Organization bank accounts by Capital One Financial in 2021 was the first time a bank formally tied money-laundering concerns to Donald Trump's family business.

Anti-money laundering review

▪Capital One Financial has never accused the Trump Organization of engaging in illegal money laundering.
▪Capital One Financial asserted that the transaction patterns identified in the Trump Organization accounts are among the types of activity flagged by federal banking guidance.
▪Capital One Financial stated in a court filing on August 1, 2026, that the 2021 account closures resulted from months of analysis and a careful review by its anti-money laundering team.

Trump Organization lawsuit

▪The Trump Organization and Eric Trump filed a lawsuit against Capital One Financial in March 2025 in a Florida federal court over the 2021 account closures.
▪The federal court in Miami dismissed two prior complaints in the Capital One Financial lawsuit but allowed the plaintiffs to submit amended complaints, with the latest version filed in July 2026.

Political debanking allegations

▪The Trump Organization and Eric Trump alleged that Capital One Financial closed their accounts due to political reasons and a desire to benefit from the political mood following the January 6, 2021, US Capitol riot.
▪Capital One Financial argued that the Trump Organization's allegations of political pretext are misguided and based on cherry-picked quotations unsupported by the full context of court documents.

Trump administration banking pressure

▪Donald Trump filed a lawsuit against JPMorgan Chase in January 2026 alleging illegal debanking on political grounds.
▪Donald Trump signed an executive order in August 2025 barring financial institutions from engaging in discriminatory debanking.