Capital One Bank stated that concerns regarding money laundering led to the closure of one of President Donald Trump's bank accounts in 2021. This statement was made in response to a lawsuit filed by one of Trump's financial holding companies, which claimed that the bank's actions were politically motivated following the January 6, 2021, Capitol riot. In a court filing, Capital One asserted that the account closures resulted from an extensive review by its Anti-Money Laundering team, in line with bank policies and regulatory guidance.
The bank indicated that the decision was based on analyses conducted by professionals with significant law enforcement experience and noted that it had not disclosed the termination decision or its internal processes publicly. Capital One also mentioned that it provided Trump with several months to secure alternative banking services, which he managed to do. The bank dismissed the lawsuit's claims as based on selective quotations and emphasized its right to terminate relationships with clients without prior notice.
In response, Trump's legal team rejected Capital One's explanation, asserting that the bank, along with others, terminated services for political reasons. They expressed their intent to pursue the lawsuit against Capital One, which they believe is accountable for its actions. Trump's lawyers contended that the anti-money laundering justification was fabricated post-factum, a claim that Capital One disputes, stating there is no supporting evidence. Trump's lawsuit against Capital One is part of a broader trend of legal actions against banks that have ceased services for him, with JP Morgan also mentioned as a bank involved in similar actions. In August 2025, Trump signed an executive order aimed at addressing the issue of de-banking based on political disagreements.