Capital One Financial Corp closed more than 300 bank accounts belonging to the Trump Organization following an anti-money laundering review [1], [2].
The move highlights the tension between financial institutions and politically exposed persons, illustrating how regulatory compliance can lead to the sudden severance of banking relationships.
According to a statement issued from its San Francisco headquarters, the bank shut down hundreds of accounts [1], [3]. Some reports specify that the number of closed accounts exceeded 300 [2]. These closures took place in 2021 [3], [4].
The bank said the decision resulted from a thorough anti-money laundering review rather than political pressure [1], [2]. This justification has become a central point in a legal battle, as a lawsuit against Capital One was filed in 2025 [4].
Financial institutions are required to monitor accounts for suspicious activity to prevent illicit funds from entering the banking system. Capital One said the review process led to the determination that the accounts should be closed [1], [2].
The Trump Organization and its related entities were the targets of the review. The bank said its actions were based on internal compliance standards, and regulatory requirements [1], [2].
“Capital One closed more than 300 bank accounts belonging to the Trump Organization.”
This case underscores the significant power banks hold in 'de-risking'—the practice of closing accounts to avoid potential regulatory fines. By citing anti-money laundering protocols, Capital One is positioning the closures as a mandatory compliance action, which may complicate the Trump Organization's efforts to prove the move was politically motivated in the 2025 lawsuit.
