MIAMI: Trump account closures affecting more than 300 Capital One accounts followed a months-long anti-money-laundering review, the bank said in a July 31 federal court filing.
Capital One made the disclosure while seeking dismissal of an amended lawsuit brought by the Donald J. Trump Revocable Trust and President Donald Trump’s son, Eric Trump.
The bank said its anti-money-laundering team reviewed transaction patterns in accordance with internal policies and federal banking guidance. However, Capital One did not accuse the Trump Organisation or its executives of illegal money laundering.
Capital One notified the Trump-affiliated entities in March 2021 that it planned to close their accounts. The trust and Eric Trump sued in March 2025, alleging that the bank had acted because of the family’s political views after the January 6 Capitol riot.
A Miami federal court dismissed two versions of the complaint but allowed the plaintiffs to amend their claims. Capital One argued that the latest version repeated the earlier complaints’ deficiencies and relied on documents without their full context.
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The transaction patterns identified during the review matched activity covered by federal banking guidance, Capital One said. The Trump Organisation and the bank did not immediately respond to Reuters requests for further comment.
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Trump signed an executive order on August 7, 2025, directing regulators to address unlawful or politically motivated debanking. He filed a separate lawsuit against JPMorgan Chase in January 2026, alleging similar claims.
