Bank Rejects Political Bias Claims as Legal Battle Over Account Closures Intensifies 
Capital One Financial Corp. has disclosed that it closed more than 300 bank accounts linked to the Trump Organization in 2021 following an internal review conducted by its anti-money laundering (AML) specialists, rejecting claims that the decision was politically motivated.
The disclosure was made in a court filing as Capital One seeks to dismiss a lawsuit filed by the Trump Organization and Eric Trump, who allege that the bank unlawfully "debanked" the family's business because of political bias.
Bank Says Decision Followed Compliance Review
According to Capital One's filing, the decision to terminate the accounts came after months of analysis by its anti-money laundering team and was based on internal compliance assessments and regulatory obligations.
The bank stressed that it has not accused the Trump Organization of engaging in illegal money laundering, but argued that the account closures were driven by risk management considerations rather than political views.
Capital One told the court that documents cited in the lawsuit support its position that the closures were related to AML concerns and not discrimination based on political affiliation.
Trump Organization Challenges Closure
The Trump Organization and Eric Trump filed the lawsuit in March 2025, alleging that Capital One closed hundreds of accounts shortly after the January 6, 2021, attack on the U.S. Capitol because of what they described as the bank's political beliefs.
The plaintiffs argue that the closures amounted to unlawful "debanking" and claim the decision damaged the business by disrupting banking relationships.
Capital One Seeks Dismissal
Capital One has asked the court to dismiss the latest version of the complaint, arguing that the allegations are unsupported and misrepresent internal documents.
The bank maintains that its actions complied with banking regulations and standard risk management procedures, insisting there is no evidence that political considerations influenced its decision.
Broader Debate Over "Debanking"
The case forms part of a broader national debate over allegations of politically motivated "debanking" in the United States.
During his second term, President Donald Trump has criticised major financial institutions over alleged political discrimination and signed executive actions aimed at preventing unlawful denial of banking services based on political or ideological beliefs.
The Trump Organization has also pursued legal action against other financial institutions over similar claims, while banks have consistently maintained that account decisions are based on regulatory compliance and financial risk assessments rather than political affiliation.
Legal Proceedings Continue
The federal court has previously dismissed earlier versions of the lawsuit while allowing the plaintiffs to amend their complaint.
The latest filing by Capital One represents another stage in the ongoing legal battle, with the court expected to determine whether the case should proceed or be dismissed.
The outcome could have broader implications for how financial institutions balance regulatory compliance obligations with growing scrutiny over claims of politically motivated account closures.