Capital One Closes Over 300 Trump Organization Accounts Amid Anti-Money Laundering Review

Capital One has made public its decision to close over 300 accounts linked to the Trump Organization after conducting a months-long review of anti-money laundering (AML) concerns. This move comes as part of an ongoing debate about debanking practices and their intersection with crypto policy and financial regulation.

The bank, in response to a lawsuit filed by the Trump Organization and Eric Trump, claims that it shut down these accounts due to AML concerns rather than any political motivations. Capital One argues that the types of transaction patterns identified were 'among the types of activity flagged by federal banking guidance.'

The disclosure marks the first time a bank has formally tied money laundering concerns to U.S. President Donald Trump's family business. The Trump Organization and Eric Trump, however, claim that the accounts were shut down for political reasons following the January 6, 2021 Capitol riot.