Capital One Closes 300 Trump Accounts Over Compliance Review

In 2021, Capital One closed more than 300 bank accounts associated with the Trump Organisation, citing an anti-money laundering review as the reason for the closures. This decision was disclosed in a court filing submitted in the United States District Court for the Southern District of Florida, where Capital One is seeking to dismiss a lawsuit from the Trump Organisation.

The Trump Organisation claims it suffered “considerable financial harm” due to the account closures, alleging that the actions were politically motivated. Capital One, however, stated that the closures were based on “transaction patterns” identified during months of analysis by a team with extensive law enforcement experience.

The bank denied any allegations of political discrimination and asserted that customers were given several months to find alternative banking services before the accounts were closed. The case is part of a series of legal actions initiated by Trump or his allies following his presidency, including a lawsuit against JPMorgan Chase for similar claims.