{"id":1316,"date":"2026-08-04T06:37:26","date_gmt":"2026-08-04T06:37:26","guid":{"rendered":"https:\/\/urbaneconomynews.com\/?p=1316"},"modified":"2026-08-04T06:37:26","modified_gmt":"2026-08-04T06:37:26","slug":"capital-one-says-it-closed-trump-accounts-over-money-laundering-review-not-politics","status":"publish","type":"post","link":"https:\/\/urbaneconomynews.com\/?p=1316","title":{"rendered":"Capital One Says It Closed Trump Accounts Over Money Laundering Review, Not Politics"},"content":{"rendered":"
\n

Capital One says it shut down hundreds of bank accounts tied to President Donald Trump and his businesses in 2021 because of an internal anti-money laundering review, not political bias, according to a court filing made public July 31.<\/p>\n

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The bank made the disclosure in a motion asking a federal judge to dismiss Trump\u2019s lawsuit, which accuses Capital One of \u201cdebanking\u201d him and his companies for political reasons after the Jan. 6, 2021, riot at the U.S. Capitol. Capital One did not accuse the Trump Organization of money laundering, but the bank\u2019s lawyers said the closures followed a monthslong review by its anti-money laundering team.<\/p>\n

\u201cThe closures were the result of months of analysis and a careful review by Capital One\u2019s AML team in accordance with bank policies and regulatory guidance,\u201d the bank\u2019s lawyers wrote, adding that Capital One \u201cnever publicized\u201d the decision and gave the Trump family months, including several extensions, to move to a new bank.<\/p>\n

A spokesperson for the Trump organization called the bank\u2019s explanation \u201ccompletely baseless\u201d and accused Capital One of scrambling to invent cover for what the family maintains was a political hit.<\/p>\n

\u201cCapital One\u2019s after-the-fact attempt to justify its debanking of Trump related accounts is completely baseless,\u201d the spokesperson said. \u201cFollowing the events of January 6, 2021, Capital One manufactured a post hoc rationale by selectively resurrecting a handful of isolated transactions that had occurred years earlier and had never once been identified as cause for concern.\u201d<\/p>\n

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Trump\u2019s trust, his companies and his son Eric Trump sued Capital One last year, alleging the bank canceled roughly 385 accounts tied to the family for political reasons in the aftermath of Jan. 6. The lawsuit accused Capital One of caving to \u201cunsubstantiated, \u2018woke\u2019 beliefs\u201d and cutting ties with Trump because \u201cthe political tide at the moment favored doing so.\u201d<\/p>\n

The account closures came only months after Capital One agreed to pay a $390 million penalty to the Treasury Department\u2019s Financial Crimes Enforcement Network for an ineffective anti-money laundering program, a timeline fueling skepticism among the president\u2019s allies about the bank\u2019s rationale.<\/p>\n

Trump has filed a similar debanking lawsuit against JPMorgan Chase, which is still pending. JPMorgan has said the suit has \u201cno merit\u201d and that it closes accounts that pose \u201clegal or regulatory risk.\u201d<\/p>\n

U.S. District Judge Roy Altman, a Trump appointee, dismissed Trump\u2019s original complaint earlier this year for failing to state a legal claim but allowed an amended version last month.<\/p>\n

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Capital One says it shut down hundreds of bank accounts tied to President Donald Trump and his businesses in 2021 because of an internal anti-money laundering\u2026<\/p>\n","protected":false},"author":1,"featured_media":1315,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nCapital One Says It Closed Trump Accounts Over Money Laundering Review, Not Politics - Urban Economy news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/urbaneconomynews.com\/?p=1316\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital One Says It Closed Trump Accounts Over Money Laundering Review, Not Politics - 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