On April 10, 2026, President Donald Trump and Eric Trump were seen preparing to leave on Marine One from the White House, as captured by Alex Brandon from AP. During this time, Capital One has requested a federal judge dismiss a lawsuit filed by the Trump Organization. This lawsuit concerns the closure of numerous bank accounts in 2021.
Capital One argues the closures resulted from an extensive anti-money laundering review. The Trump Organization alleges the shutdowns were retaliation for the January 6 Capitol riot. In a recent motion filed in a Florida federal court, Capital One’s lawyers stated the bank’s file reviews and the Trump family’s claims confirm that the accounts were closed for anti-money laundering reasons.
Capital One insists that after months of examination, their financial-crimes team, composed of experienced professionals, decided on the account closures. However, the Trump Organization and associated entities argue they were not given a chance to address or resolve any alleged issues before these closures occurred. It remains uncertain whether any subsequent banks raised similar concerns or how the Trump Organization reacted to these allegations.
This legal battle is one of several initiated by Trump-related entities against major financial institutions since Trump’s return to office. The focal point of the case involves about 385 accounts linked to the Trump Organization, Eric Trump, and associated businesses such as a winery, a bottled-water company, and a golf course developer. These accounts had been with Capital One for over ten years before their closure in 2021.
In an updated complaint filed in July, the Trump-associated companies claimed that the account closures were not related to financial misconduct but rather politically motivated. The Trump Organization suggests Capital One sought to distance itself from Donald Trump following the events at the Capitol, and the anti-money laundering reason was a post hoc excuse. Capital One disputes these claims, arguing that the Trump family relies on selective quotes without supporting full context and that nothing in the complaint refutes the genuine nature of their reason for closure.
The bank’s legal team further noted that its termination decision and internal processes were kept private, allowing the Trump companies time to relocate their funds. Large portions of the Trump family’s revised complaint remain redacted under a court-approved sealing order, particularly the section titled “January 6, 2021: The Political Trigger.”
Capital One maintains that its contract granted them wide latitude to close accounts at any time for any reason without prior notice—a point the Trump companies do not contest. Judge Roy Altman previously dismissed an earlier version of the lawsuit, recognizing the broad discretion afforded to the bank by the open-ended contract terms. Capital One now seeks a permanent dismissal of the latest complaint, denying another refile opportunity.
The bank is also countering a new claim made by the plaintiffs in July, asserting Capital One committed fraud by not disclosing its rationale. Capital One’s attorneys argue that the bank had no obligation to explain its decisions and further contend that federal banking-secrecy law would prevent disclosure of internal anti-money-laundering findings.
The secrecy law is pivotal in an ongoing fight over what remains confidential. Capital One filed a separate motion seeking to maintain the seal of parts of one exhibit, claiming protection under the Bank Secrecy Act, which includes employee names, customer account numbers, and unrelated compensation data. The Trump companies do not object to sealing the account numbers or certain Secrecy Act passages, but they are challenging other redactions requested by Capital One.
A parallel lawsuit was filed against JPMorgan Chase in January regarding accounts closed during the same timeframe, raising similar issues. President Trump issued an executive order in August looking to address what he and other conservatives view as politically motivated ‘debanking.’ Capital One previously clashed with Trump in 2019 when the president sued them alongside Deutsche Bank to prevent the disclosure of his financial records to a Congressional inquiry.
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