Capital One has said it closed more than 300 bank accounts belonging to the Trump Organization because of anti-money laundering concerns, according to a court filing.
The disclosure was made as part of the bank’s latest attempt to have a lawsuit brought by the Trump Organization dismissed.
Although Capital One stopped short of accusing the organisation of unlawful money laundering, the filing states that “documents and Plaintiffs’ own allegations make clear that Capital One closed Plaintiffs’ accounts for anti-money laundering (‘AML’) reasons.”
The Trump Organization and Eric Trump launched legal proceedings against Capital One in a Florida federal court in March 2025.
The lawsuit alleges the bank unlawfully denied financial services to the organisation on political and religious grounds, with the dispute stemming from March 2021, when Capital One informed the Trump Organization it intended to end the banking relationship.
The plaintiffs claim the decision was motivated by the bank’s “woke” ideology and an attempt to align itself with the political climate following the storming of the US Capitol on January 6, 2021.
Capital One says it closed Trump Organization accounts over anti-money laundering concerns
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Capital One has denied those allegations, stating the decision followed “months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance.”
In its latest court filing, the bank described the Trump Organization’s claims of political motivation as “misguided” and “based on cherry-picked quotations unsupported by the full context” of the evidence before the court.
Capital One also said “the transaction patterns identified by Capital One are among the types of activity flagged by federal banking guidance.”
A federal court in Miami has dismissed the plaintiffs’ complaints on two previous occasions, while allowing amended versions of the lawsuit to be refiled.
Capital One argued the latest complaint, submitted in July, “suffers from the same fundamental flaws as their prior two pleadings.”
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The case comes as Donald Trump’s administration has increased scrutiny of major banks following long-running complaints from conservatives that financial institutions have discriminated against right-leaning customers.
In August 2025, Mr Trump signed an executive order aimed at prohibiting discriminatory debanking practices.
He also filed a separate lawsuit against JPMorgan Chase in January on similar grounds.
The dispute is the latest chapter in a long-running legal battle between Mr Trump and major financial institutions.
During his first term as president in 2019, Mr Trump filed legal action against both Capital One and Deutsche Bank in an attempt to prevent them from handing over financial records to a congressional investigation led by Democrats.
At the time, reports suggested Deutsche Bank’s anti-money laundering specialists had raised concerns about certain transactions, although the bank denied those claims.
GB News has contacted both Capital One and The Trump Organization for comment.