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Capital One Closes 385 Trump Accounts, Trump Organization Sues

8/4/2026

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Summary

Story summary

Capital One closed 385 accounts linked to President Donald Trump and his businesses in 2021 after its AML team flagged them as high risk.
The Trump Organization alleges political motivation and has sued Capital One for damages.
Capital One said the closures followed months of review, met policy and regulatory guidance, and came after it agreed to pay a $390 million Financial Crimes Enforcement Network (FinCEN) penalty for prior AML deficiencies.

History

Historical Context

HSBC’s 2012 $1.9 billion settlement with the U.S. Department of Justice and Treasury’s Office of Foreign Assets Control followed a probe that uncovered $881 million in drug-trafficking proceeds and sanctions breaches involving Iran, Sudan and others. The case built on decades of U.S. enforcement against weak AML controls, prompting banks to expand compliance programs and shaping today’s heightened regulatory scrutiny.

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Story summary

Capital One closed 385 accounts linked to President Donald Trump and his businesses in 2021 after its AML team flagged them as high risk.
The Trump Organization alleges political motivation and has sued Capital One for damages.
Capital One said the closures followed months of review, met policy and regulatory guidance, and came after it agreed to pay a $390 million Financial Crimes Enforcement Network (FinCEN) penalty for prior AML deficiencies.

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