The bank terminated accounts tied to former President Trump in 2021 following anti-money laundering reviews and a regulatory penalty.
Capital One closed 385 accounts associated with Donald Trump and his businesses in 2021 after flagging potential money laundering risks. The move followed the bank’s $390M penalty from FinCEN for anti-money laundering (AML) compliance failures.
The closures included accounts for Trump’s winery, bottled-water company, and golf course ventures. Trump’s legal team sued Capital One last year, alleging political motives, while the bank cited AML policies and regulatory guidance in its defense.
Trump has also filed lawsuits against other banks, including JPMorgan Chase, over account terminations. The dispute highlights tensions between financial institutions and high-profile clients under AML scrutiny.