Capital One closed hundreds of Trump Organization accounts in 2021 for anti-money laundering reasons, the bank disclosed in a court filing. The Trump Organization had sued Capital One, claiming the bank debanked them for political reasons.
Background
The Trump Organization maintained that the accounts were closed due to political motivations, but Capital One denied this, stating that the closures were the result of months of analysis by a team with law enforcement experience.
A Trump Organization spokesperson called Capital One’s reasoning ‘completely baseless’ and claimed the bank ‘manufactured’ a rationale for closing the accounts after the January 6, 2021, Capitol breach.
Capital One said it had identified ‘transaction patterns’ that triggered the review, but did not accuse the Trump Organization of specific wrongdoing. The bank permitted account holders several months to find new banking services.
Original reporting: KTVZ (Central Oregon) — read the source article.
