Capital One Financial has revealed that it closed the Trump Organization’s bank accounts due to concerns over potential money laundering. This disclosure marks the first time a bank has formally tied money laundering concerns to U.S. President Donald Trump’s family business.
Background
The Trump Organization and Eric Trump, the president’s son, had filed a lawsuit in March 2025, alleging that the accounts were closed because of Capital One’s desire to benefit from the political mood after the January 6, 2021, protests at the U.S. Capitol. However, Capital One has stated that the closures were the result of months of analysis and a careful review by its anti-money laundering team.
Capital One has never accused the Trump Organization of illegal money laundering. The bank’s filing argues that the closures were made in accordance with bank policies and regulatory guidance. The Trump Organization and Capital One did not immediately respond to requests for comment.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
