Capital One says it closed Trump-affiliated accounts over money-laundering probe, not Jan. 6 riots

Capital One stated it closed approximately 300 bank accounts associated with Donald Trump's companies in March 2021 due to anti-money laundering (AML) concerns, not in response to the January 6 riots. The bank's financial-crimes unit conducted "months of analysis and a careful review" before the decision. Capital One notified account holders and granted extensions, rejecting claims that the closures were politically motivated or that it defrauded them by not disclosing its reasoning. The bank argued it was not obligated to provide a reason for termination, citing contractual agreements and the Bank Secrecy Act. This lawsuit, filed in March 2025, is one of several by Trump-affiliated entities against major banks for alleged "debanking" based on perceived bias.