COF · News · 20260804N

Litigation and Legal Risk

CAPITAL ONE FINANCIAL CORP · 2026-08-04 · Importance 17 · Surprise 24

Capital One is seeking dismissal of a lawsuit filed in March 2025 by the Trump Organization and related entities over the closure of more than 300 accounts in 2021. In court filings, the bank said the closures followed an anti-money-laundering review that identified transaction patterns matching federal banking guidance, while denying that the plaintiffs were accused of money laundering or that political considerations drove the decision. Reports place the number of closed accounts at approximately 300 to 385. The litigation follows Capital One’s reported $390 million FinCEN penalty for deficiencies in its AML program and could create legal, regulatory, and reputational risk concerning banks’ account-termination and debanking practices.

Key facts

• The Trump Organization filed a lawsuit in March 2025 alleging the closures were politically motivated. source
• Capital One told a court it closed hundreds of Trump Organization accounts in 2021 due to anti-money laundering concerns and is asking a judge to dismiss a lawsuit filed by the Trump Organization. source
• A lawsuit alleges Capital One closed approximately 300 bank accounts belonging to Donald Trump and his businesses due to anti-money laundering concerns. source
• Capital One closed approximately 300 Trump Organization bank accounts in 2021 following an anti-money laundering (AML) review. source
• Capital One stated it has not accused the Trump Organization of illegal money laundering while saying transaction patterns matched those flagged by federal banking guidance. source
• Capital One said in a court filing that it closed Donald Trump's bank accounts in 2021 due to financial activities that showed characteristics of money laundering. source