Top Bank Accuses Trump Of What?

Capital One is asking a federal judge to dismiss President Trump’s lawsuit over the bank’s decision to close hundreds of Trump Organization-linked accounts, arguing the accounts were shut down because of anti-money laundering concerns—not politics.

In a court filing Friday, Capital One said its anti-money laundering team spent months reviewing the accounts before deciding to close them in 2021. The bank said the decision followed its internal policies and federal regulatory guidance.

According to the filing, Capital One did not publicly announce the closures and gave the Trump Organization several months, along with multiple deadline extensions, to move its banking business elsewhere before the accounts were closed.

The Trump Organization, led by Donald Trump Jr. and Eric Trump, has argued the bank closed more than 300 affiliated accounts because of political bias, accusing Capital One of participating in the broader “debanking” of conservatives.

President Trump and his allies have repeatedly criticized major financial institutions for allegedly targeting conservative individuals and organizations. Earlier this year, Trump also sued JPMorgan Chase over the closure of his accounts, seeking billions of dollars in damages.

Friday’s filing comes after U.S. District Judge Roy Altman dismissed the original lawsuit earlier this year but allowed the Trump Organization limited discovery before filing an amended complaint.

Capital One now argues the revised lawsuit still fails to support its claims and should be dismissed permanently. The bank said the Trump Organization has produced no evidence undermining the anti-money laundering review that led to the closures.

The filing notes that Capital One’s anti-money laundering specialists relied on extensive law enforcement and compliance experience throughout the review process and maintains the decision to close the accounts was lawful and fully permitted under the banking agreements.

The bank also rejected claims that its anti-money laundering concerns were merely a pretext for political discrimination, arguing the plaintiffs are attempting to keep the lawsuit alive through speculation rather than evidence.

The dispute comes after Capital One paid a $390,000 civil penalty to the Treasury Department’s Financial Crimes Enforcement Network in 2021 over deficiencies in its anti-money laundering compliance program. Capital One argues that strengthened compliance efforts and regulatory obligations were part of the reason for its careful review of customer accounts, including those tied to the Trump Organization.