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Capital One seeks to dismiss lawsuit from President Donald Trump over alleged political debanking

Capital One has requested a federal judge to dismiss a lawsuit filed by President Donald Trump and his affiliated business entities regarding the closure of approximately 385 bank accounts in 2021. The Trump Organization alleges that the bank closed the accounts for blatantly political reasons following the Jan. 6 attack on the U.S. Capitol, accusing the bank of attempting to distance itself from the president's conservative views. In a recent court filing, Capital One argued that the closures were the result of a monthslong anti-money-laundering review conducted by its financial-crimes team, rather than a political statement. The bank noted that it never publicized the internal process at the time and maintained that it had the right to close any account for any reason under its contractual terms. The administration announced an executive order in August 2025 directing federal bank regulators to terminate examinations of banks over who they were doing business with to address the issue of debanking. The case remains pending in the U.S. District Court for the Southern District of Florida.

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