Capital One has told a U.S. federal court that it closed more than 300 bank accounts linked to President Donald Trump, his family and the Trump Organisation in 2021 following an internal anti-money laundering review.
The disclosure came in response to a lawsuit filed by Trump’s business interests, which allege the accounts were closed for political reasons after the January 6 Capitol riot.
Capital One denied the allegation, saying the decision followed months of analysis by its anti-money laundering team and complied with bank policies and federal regulatory guidance. The bank said the transaction patterns it identified matched activities flagged under anti-money laundering rules but did not accuse the Trump Organisation of money laundering.
The case is part of a broader legal dispute over claims of politically motivated “debanking” by major U.S. financial institutions.
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