Capital One Says AML Review Drove Trump Account Closures
Capital One notified the Trump Organization and related entities in March 2021 that it would close more than 300 accounts, about two months after the Jan. 6 attack on the U.S. Capitol. The Trump Organization and Eric Trump sued in March 2025, alleging the bank engaged in unlawful political “debanking.” The accounts held millions of dollars, and the plaintiffs said the closures caused financial losses.
In a July 31, 2026 filing in U.S. District Court in Florida, Capital One said the closures followed months of analysis and a review by its anti-money-laundering team under bank policies and regulatory guidance. The lender asked the judge to dismiss the amended complaint, rejecting claims that ideology drove its decision. Capital One also said it gave the plaintiffs several months, including multiple extensions, to arrange replacement banking services.
All Coverage
2 original reportsThe Backstory
The history behind this eventJudge Temporarily Dismisses Trump Organization’s Political Debanking Suit Against Capital One
The Trump Organization alleges that Capital One illegally “debanked” it by closing accounts held by its businesses because of their political affiliations. The case tests whether financial institutions may terminate customer relationships based on clients’ political backgrounds. It also extends a broader dispute among U.S. conservatives over alleged discriminatory treatment by banks and equal access to financial services.
A U.S. federal judge recently dismissed the Trump Organization’s complaint for now, but did not end the case. The court gave the plaintiffs 90 days to conduct discovery into the basis for Capital One’s decision to close the accounts and allowed the Trump Organization to file an amended complaint by July 2.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.