Capital One says it closed Trump Organization accounts over money-laundering concerns
Capital One has requested the dismissal of a lawsuit filed by the Trump Organization regarding the closure of hundreds of bank accounts in 2021. The bank maintains that the closures were based on standard anti-money-laundering reviews rather than political retaliation.
Why it matters
The case highlights the intersection of banking compliance regulations and high-profile political litigation in the United States.
Capital One bank has asked a federal judge to dismiss a lawsuit from the Trump Organization over the closure of hundreds of bank accounts back in 2021, arguing in new papers that the shutdowns were the product of a monthslong anti-money-laundering review — not retaliation for the Jan. 6 Capitol riot, as the Trump family businesses have claimed.
In a motion to dismiss the case filed Friday in a Florida federal court, Capital One's lawyers wrote that the bank's own filings and the Trump businesses' allegations "make clear that Capital One closed Plaintiffs' accounts for anti-money laundering ('AML') reasons."
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