Democratic US senator asks Capital One for details on Trump account anti-money laundering review

A Trump Organization spokesperson called Capital One's anti-money-laundering review baseless. The spokesperson said: “Capital One manufactured a post hoc rationale by selectively resurrecting a handful of isolated transactions that had occurred years earlier and had never once been identified as cause for concern. Those stale transactions were nothing more than a transparent pretext to conceal what was plainly a politically motivated decision to debank the Trump accounts.”

Spokespeople for the White House did not immediately respond to requests for comment.

The Trump Organization and Eric Trump, the president's son, sued Capital One in March 2025, alleging the bank's closure in 2021 of hundreds of affiliated accounts was politically motivated.

The U.S. bank has denied acting on political grounds. In a July court filing, it said the closures were the result of a careful review by Capital One's AML team "in accordance with bank policies and regulatory guidance." It has never accused the Trump Organization of money laundering. In a subsequent court filing, the plaintiffs said the AML review was pretextual.