Capital One Closes President Trump's Bank Accounts Over Money Laundering Concerns
Capital One closed bank accounts held by President Trump in 2021, citing financial activities that resembled money laundering. This decision was disclosed in a recent court filing related to a lawsuit filed by one of Trump's financial holding companies. The lawsuit claims that the accounts were closed for political reasons following the January 6 Capitol attacks. Capital One, however, stated that the closures were based on a thorough review by its anti-money laundering team, adhering to bank policies and regulatory guidance. Trump has also sued JPMorgan Chase for similar reasons, seeking $5 billion in damages. Both banks deny closing accounts for political reasons, asserting that they close accounts that pose legal or regulatory risks. 
