Trump Organization vs Capital One legal dispute
The developments in this story so far, most recent first.
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Capital One says it closed Trump Organization’s accounts after anti-money laundering probe
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US President Donald Trump filed a suit against JPMorgan Chase on debanking grounds.
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US President Donald Trump signed an executive order barring discriminatory debanking.
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The Trump Organization and Eric Trump filed a lawsuit in a federal court in Florida.
In March 2025, the Trump Organization and Eric Trump, son of US President Donald Trump, filed a lawsuit in a federal court in Florida. The legal proceedings followed Capital One's decision to close several Trump-affiliated bank accounts.
The plaintiffs alleged that the accounts were closed due to Capital One's political beliefs and a desire to benefit from the political climate following the January 6, 2021, riot at the US Capitol. Capital One has characterized these allegations of political pretext as misguided and based on cherry-picked quotations.
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Capital One gave notice of its plans to close more than 300 Trump-affiliated bank accounts.
In March 2021, Capital One gave notice of its intention to close more than 300 bank accounts affiliated with the Trump Organization. The bank stated that these closures were the result of months of analysis and a careful review by its anti-money-laundering (AML) team, conducted in accordance with bank policies and regulatory guidance.
According to filings, Capital One identified transaction patterns among the types of activity flagged by federal banking guidance. The bank's disclosure marked the first time a bank formally tied money-laundering concerns to Donald Trump's family business, although Capital One has stated it never accused the Trump Organization of money laundering.
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Donald Trump sued Capital One and Deutsche Bank to prevent sharing financial records with Congress.
During his first term in 2019, Donald Trump filed a lawsuit against Capital One and Deutsche Bank. The legal action sought to prevent these institutions from sharing financial records related to a probe conducted by Democratic lawmakers.