Capital One has said it closed more than 300 bank accounts connected to President Donald Trump and the Trump Organisation after an anti-money laundering review, rejecting claims that the decision was politically motivated. The accounts were closed in 2021, but the reason has become public through a new court filing as the bank seeks to have a lawsuit brought by Trump’s business dismissed.
The dispute does not mean Capital One has accused Trump, his family or the Trump Organisation of committing money laundering. The bank said its internal specialists identified transaction patterns that required further examination under its policies and federal banking guidance.
The disclosure was made in the United States District Court for the Southern District of Florida. It forms part of Capital One’s response to a lawsuit filed by the Trump Organisation and Eric Trump, the president’s son.
Bank denies political motive for closures
Capital One said the decision followed months of examination by its anti-money laundering team, which included professionals with law-enforcement experience.
“The closures were the result of months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance,” the bank said in its filing.
AML means anti-money laundering. Banks use AML systems to identify transactions that may appear unusual or carry financial, legal or regulatory risks.
A review does not automatically prove criminal activity. It can be triggered by transaction amounts, payment patterns, the movement of funds between accounts or other activity that falls within warning signs used by regulators.
Capital One said it found transaction patterns similar to activities identified in federal banking guidance. However, it did not publicly provide full details of the transactions and did not accuse the Trump Organisation of a specific offence.
The bank notified the Trump-linked businesses in March 2021 that it intended to close the accounts. The affected customers were given several months, including extensions, to move their money and arrange alternative banking services.
The accounts supported several Trump-branded businesses, including a golf course and winery. Trump and his companies had used Capital One’s services for more than a decade before the relationship ended.
Trump Organisation alleges political debanking
The Trump Organisation and Eric Trump filed their lawsuit in March 2025, claiming the accounts were closed because of political hostility following the attack on the US Capitol on 6 January 2021.
They accused Capital One of engaging in “debanking” because of the bank’s alleged political beliefs and its response to the public mood after the Capitol violence.
Debanking means ending or refusing a banking relationship. A bank may close an account because of legal, financial, fraud, reputational or regulatory concerns. Critics argue that some financial institutions have also denied services to people or businesses because of their politics or lawful activities.
A Trump Organisation spokesperson described Capital One’s explanation as “completely baseless” and maintained that the account closures were politically motivated. The company alleged that the bank developed its anti-money laundering explanation after deciding to end the relationship.
Capital One rejected that claim, describing the allegations as misleading and based on selected statements taken out of context.
A federal court in Miami has already dismissed two versions of the Trump Organisation’s complaint but allowed the claimants to amend and resubmit their case. Capital One is now seeking the dismissal of the latest version, filed in July.
No final decision has been reached on whether the account closures were lawful or politically motivated.
Trump has also sued JPMorgan Chase
The Capital One case is part of a wider dispute between Trump and major American banks.
In January 2026, Trump filed a separate lawsuit against JPMorgan Chase and its chief executive, Jamie Dimon, seeking at least $5 billion in damages. He also accused JPMorgan of closing accounts linked to him, his family and his businesses for political reasons.
JPMorgan denied the allegation, saying it does not close accounts because of customers’ political or religious beliefs. The bank said it may terminate relationships where accounts create legal or regulatory risks. New Daily Prime previously reported the dispute in its article, Trump files $5bn lawsuit against JPMorgan Chase.
Trump signed an executive order in August 2025 intended to prevent banks from denying services because of political or religious beliefs or lawful business activities. His administration has also sought banking records as part of an investigation into alleged political debanking.
The order does not prevent banks from conducting anti-money laundering checks or closing accounts where they identify legitimate compliance risks.
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