Capital One Shut Down Trump Organization Bank Accounts Over Fraud Concerns

Capital One is looking to dismiss a lawsuit by President Trump after it closed several Trump Organization-affiliated accounts in 2021 over money laundering concerns.

The Details: Lawyers for Capital One alleged the bank closed 385 accounts tied to the Trump Organization, Eric Trump and a series of other affiliated businesses for "anti-money laundering" reasons. The decision came after "months of analysis and a careful review" by its financial-crimes team. The Trump Organization argued the closures were due to the Jan. 6 Capitol riots and that they were notified on March 21, 2021 without any recourse.

For Context: In January 2026, Trump sued JPMorgan Chase for closing his accounts in 2021 and sought at least $5 billion in damages.

How the Media Covered It: Just the News (Lean Right bias) said the banks closed the accounts "because of a vendetta" against the Trumps. It reported on Capital One's legal arguments and also noted claims from the Trump Organization's defense. CNN (Lean Left) wrote that the term "debanking" has been used by conservative groups and cryptocurrency firms "that claim they are victims." It also noted banks are required by law to follow strict anti-money laundering protocols. The Hill (Center) also noted the use of "debunking" by conservatives and outlined Capital One's motion to dismiss the lawsuit in March.

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