Capital One says anti-money laundering review led to closure of over 300 Trump Organization accounts

Capital One closed over 300 Trump Organization accounts, citing an internal anti-money laundering (AML) review.

The bank's court filing stated the closures were based on months of analysis and regulatory compliance, not political motives.

The Trump Organization and Eric Trump sued Capital One in March 2025 in Florida federal court, alleging 'woke' discriminatory 'debanking'.

Capital One is seeking dismissal, saying the lawsuit's allegations are 'misguided' and based on 'cherry-picked quotations'.

This is the first time a bank has formally stated in court that AML concerns prompted the account closures.