Capital One says it closed Trump Organization accounts after an anti money laundering review

Capital One Financial said in a court filing submitted on Friday 31 July 2026 that its closure of more than 300 Trump Organization bank accounts in 2021 followed months of analysis and a careful review by the bank's anti money laundering team, in line with bank policies and regulatory guidance. According to reports, this is the first time a bank has formally tied money laundering considerations to Donald Trump's family business.

Capital One has never accused the Trump Organization of illegal money laundering. The bank gave notice in March 2021 of its plan to close the accounts, and the Trump Organization and Eric Trump filed suit in a US federal court in Florida in March 2025, alleging the closures were politically motivated. The court has so far thrown out two versions of the complaint, and the bank is asking for the case to be dismissed permanently.