Capital One cites anti-money laundering concerns in Trump Organization case

Capital One Financial has formally responded to litigation brought by the Trump Organization regarding the closure of more than 300 affiliated bank accounts in 2021. In a filing submitted Friday, the bank asserted that account terminations resulted from a comprehensive review conducted by its anti-money-laundering compliance team, conducted in accordance with established bank policies and federal regulatory guidance.

The Trump Organization and Eric Trump initiated legal action in March 2025 in federal court in Florida, contending that the account closures were driven by political considerations rather than legitimate banking concerns. They alleged that Capital One acted in response to the political environment following the January 6, 2021 Capitol riot. Capital One has not accused the Trump Organization of illegal money laundering but maintains that transaction patterns identified during its review aligned with activity types flagged in federal banking guidance.

Capital One's filing argued that the Trump Organization's claims of political discrimination rest on selective quotations lacking broader documentary context. The bank further noted that federal confidentiality obligations prevent disclosure of information that might explain specific transaction concerns or account termination rationales. Capital One requested permanent dismissal of the case, characterizing the plaintiffs' allegations as fundamentally flawed. The court has previously dismissed two earlier versions of the complaint while permitting amended filings.