Capital One Financial has responded to a lawsuit filed by the Trump Organization and Eric Trump, defending its 2021 decision to close more than 300 bank accounts affiliated with the Trump Organization. The bank stated that the closures followed months of analysis and a careful review by its anti-money laundering (AML) team in accordance with bank policies and regulatory guidance.

This disclosure marks the first time a bank has formally linked money-laundering concerns to the family business of former US President Donald Trump. Capital One is seeking to dismiss the lawsuit, which alleges that the account closures were politically motivated and intended to capitalize on the political climate following the January 6, 2021 riot at the US Capitol.

Capital One emphasized that it has never accused the Trump Organization of illegal money laundering but argued that documents and the plaintiffs' own allegations make clear the closures were for AML reasons. The bank also described the Trump Organization’s claims of political pretext as misguided and based on selective quotations lacking full context.

The Trump Organization and Eric Trump filed the lawsuit in March 2025 in a Florida federal court, asserting that Capital One’s decision was driven by “woke” beliefs and political considerations. Capital One noted that the latest version of the lawsuit, filed in July 2026, suffers from the same fundamental flaws as previous pleadings.

In a related context, during his first term in 2019, Donald Trump sued Capital One and Deutsche Bank to prevent them from sharing financial records with the US Congress amid a probe led by Democratic lawmakers.

Neither the Trump Organization nor Capital One immediately responded to requests for further comment.

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