Capital One cites anti-money laundering review in Trump bank lawsuit
Capital One defends closing Trump Organization accounts, citing anti‑money‑laundering review, while the lawsuit claims political bias.Summary
Capital One filed a motion to dismiss a lawsuit filed by the Trump Organization in 2025 that alleged the bank closed more than 300 accounts because of political bias. Capital One argues the closures were the result of a thorough anti‑money‑laundering (AML) review conducted in March 2021, citing regulatory guidance and internal analysis.
The lawsuit claims the bank acted on "woke" beliefs and sought to capitalize on the political climate after the January 6 riot. Capital One counters that the allegations are "misguided" and based on cherry‑picked quotations, and that the transaction patterns it identified were consistent with federal banking guidance.
The case unfolds amid a broader backdrop of political pressure on banks, including Trump’s executive order banning discriminatory debanking and his own lawsuit against JPMorgan Chase. The outcome will have implications for how banks balance regulatory compliance with accusations of political discrimination.
(Source：The Journal Record)