Capital One defends closure of Trump Organization accounts as AML decision

Capital One Financial submitted a motion to throw out a lawsuit filed by the Trump Organization and Eric Trump, asserting that the bank’s decision to close over 300 accounts in March 2021 stemmed from an anti-money-laundering review. The filing states that its AML specialists conducted months of analysis, finding transaction patterns flagged by federal banking guidance. The bank denies any political or religious bias, describing the plaintiffs’ accusations of “woke” intent as unfounded and taken out of context.

The lawsuit, lodged in a Florida federal court in March 2025, claims the closures were retaliation for the January 6 Capitol events. Capital One also notes it has never alleged the Trump Organization engaged in money-laundering. The case follows other recent legal actions by the Trump administration against major banks over alleged discriminatory debanking.