COF · News · 20260805N

Litigation and Legal Risk

CAPITAL ONE FINANCIAL CORP · 2026-08-05 · Importance 17 · Surprise 24 · In source text

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

• Capital One disclosed in a court filing that it closed approximately 385 bank accounts linked to Donald Trump and his businesses in mid-2021 due to anti-money laundering concerns and that the closures followed a $390 million penalty Capital One paid to FinCEN for failing to maintain an effective AML program. source

Impact estimates