Trump accounts at Capital One were closed in 2021 over money laundering concerns | AP News
By: President Donald Trump (AP News)
S E E D E D C O N T E N T
Trump accounts were closed in 2021 due to concerns over possible money laundering, Capital One says
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President Donald Trump departs following a cabinet meeting at Camp David, near Thurmont, Md., Friday, July 31, 2026. (Nathan Howard/Pool Photo via AP)
NEW YORK (AP) — Bank accounts held by President Donald Trump were closed by Capital One in 2021 after it flagged financial activity that had characteristics of money laundering, the bank disclosed in a court filing over the weekend.
The court filing is tied to a lawsuit filed against Capital One by one of Trump's financial holding companies shortly after he was sworn into office a second time. Trump alleges that Capital One illegally closed his accounts for political reasons, following the Jan. 6 attacks on the U.S. Capitol.
Capital One wants the lawsuit dismissed.
"The closures were the result of months of analysis and a careful review by Capital One's AML team in accordance with bank policies and regulatory guidance," the bank said in the court filing. The term "AML" is an abbreviation for anti-money laundering.
Trump has sued Capital One, as well as JPMorgan Chase, for allegedly debanking him after he left office in 2021. Debanking occurs when banks shut down customer accounts because they believe they pose financial, legal or reputational risks to the banks.
Both banks have denied they severed their relationships with the president, his sons, and other related businesses for political reasons. The lawsuit against JPMorgan Chase is seeking damages of $5 billion. JPMorgan has said it does not close accounts for political reasons, but closes accounts "with or without cause" and also accounts that create "legal or regulatory risk."
In July, after the original lawsuit had laid dormant for months, lawyers for the president filed an amended lawsuit that alleged the bank debanked him for political reasons. The bank says the new allegations are without merit, saying the complaint rests on "new theories are based on cherry-picked quotations."
President Trump's legal team dismissed that claim Monday, but did not address the internal findings by the bank.
"Capital One, along with other major banks, de-banked President Trump, his family, and his businesses for blatantly political reasons," a spokesperson for Trump's legal team said. "President Trump's powerful lawsuit holds Capital One accountable for its disgraceful conduct, and we look forward to seeing this matter through to a just and proper conclusion."
Conservatives have long alleged that banks debank them and their political allies. The allegations became louder after Operation Choke Point, an initiative during the Obama Administration when regulators pressed banks to cut off financial services to the firearm industry, tobacco, and payday lenders, among others. The cryptocurrency industry alleged it was also a victim of debanking during the Biden Administration.
Trump signed an executive order in August 2025 titled "Guaranteeing Fair Banking for All Americans" directing federal bank regulators to terminate examinations of banks over who they were doing business with. The Trump administration has also subpoenaed records of the biggest banks as part of an investigation into alleged debanking.
Trump had more than 300 bank accounts with Capital One before they were closed. The bank accounts were for a variety of Trump-branded businesses, ranging from a golf course to a winery. Trump had banked with Capital One for more than a decade before the accounts were closed.
In the court filing, Capital One said it had no reason to make a political statement with the closure of Trump's accounts in 2021 and the move had everything to do with activity in the accounts being flagged by anti-money laundering experts with the bank.
"Capital One never publicized the termination decision nor its confidential internal process giving rise to the closure, and it permitted Plaintiffs several months (and granted several extensions) to find new banking services, which they did," the bank said.
KEN SWEET Ken is a national writer on banking and consumer issues.
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I bet all those "businesses" he had like trmp wine, trmp steaks, trmp airline were all money laundering businesses
why do you think he wants immunity from the IRS for himself and family so bad?
fraud is trump's business specialty ...
Does he have a non-fraud business?
if it exists, he has yet to reveal it ...
how sad, due to how accurate...
Interesting to see where this goes.
With any luck, it lands donny in prison.
And Uday and Qusay with him.
the only thing in DC that should bear trump's name is a plain concrete wall at the entrance to arlington ...
While he definitely doesn't qualify for burial inside the cemetery:
He doesn't even qualify for having his name at the bottom of trash cans at the entrance.
He can just have himself planted on that golf course he planted his first wife
I don’t care where they bury him, just do it … like yesterday.
They are going to give another go at getting his name on the Kennedy Center. Something along the lines of "The John F Kennedy Center For The Performing Arts - Improved And Renovated By Donald J Trump.
Not a joke.
At least not a Funny one! What a pathetic little man, attention requiring through everything he can, and it will mostly be removed as soon as all this behind the sceens GOP enabled CORRUPTION comes to bare, on the wanna be Emperor with no close, in of his big phat asz mouth
The board — which is mostly Trump loyalists after the president dismissed Democratic-appointed members on the historically bipartisan body — voted to “honor the President’s contribution with an inscribed recognition on the building,” with the new signage reading: “The John F. Kennedy Memorial Center for the Performing Arts, Restored and Renovated by President Donald J. Trump.”
Trump-aligned board votes to put his name on the Kennedy Center — again - POLITICO
Contribution??? What contribution?
This is really rich.
When Nixon said he was not a crook, he was using the word crook in the metaphorical sense, and he was lying to the Americans at large. When Trump says he is not a crook, we all know he is lying, and also is not using the metaphorical sense of the word. Trump and the Trump administrations actions do not border on the criminal, they are blatantly criminal.
It is all just a walk in the park for the Don.
All due to too many who apparently, choose, to remain in the dark asz this likely pedophile and definite pedo protector, lurks in the dark wandering around that park, looking for his next victim and then aiming to molestee her, or, "blow Bubba", according to Epstein's brother, butt, it's okay, according tothe note written by and signed, Epsteins' mutha, cause you know he'd love to "Welcome Back" Mr. Kottttt erhhhhrrrr, as he does his Boom Boom on Washington, while looking for a WHore ta Shack up with, but hey, who, what, when, when you were named Epsteins best friend....?
The Trump administration is the most evil and corrupt administration this country has ever had the misfortune to experience.
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