Capital One Seeks Dismissal of Trump Organization Lawsuit

Capital One Financial asked a Florida federal court to dismiss a lawsuit brought by the Trump Organization and Eric Trump over the 2021 closure of approximately 385 affiliated bank accounts. The plaintiffs allege the bank illegally shut down the accounts based on political motives and "woke" beliefs following the January 6, 2021, Capitol riot.

In a filing on August 1, 2026, the bank argued that the closures followed months of analysis by its anti-money laundering (AML) team and aligned with federal regulatory guidance. Capital One maintains that its contracts permit account closures for any reason without notice and asserts that banking-secrecy laws prevented it from disclosing internal AML findings. While the bank has not formally accused the organization of illegal activity, the filing marks the first time a financial institution has linked AML concerns to the business in a formal legal response.

The legal dispute occurs as President Donald Trump pursues a broader campaign against discriminatory debanking. This includes a 2025 executive order barring such practices and a separate lawsuit filed in January 2026 against JPMorgan Chase. Judge Roy Altman is presiding over the Florida case, having previously dismissed an earlier version of the lawsuit.