The Trump Organization filed a lawsuit against Capital One bank, claiming the financial institution wrongfully closed several of its accounts following the January 6th Capitol riot. The organization argues that the closures were politically motivated, asserting that the bank acted in retaliation for its association with President Donald Trump. This legal action comes amid ongoing controversy surrounding the financial treatment of entities linked to Trump and his supporters, raising questions about whether banks discriminate against businesses based on political affiliations.
This week, Eric Trump confirmed the lawsuit filing, accusing Capital One of terminating over 300 accounts from the Trump Organization “without cause.” He called it a “clear attack” on the First Amendment and free enterprise. The lawsuit was filed in Florida state court and seeks unspecified damages.
The president's son stated that the effort to "debank" his family’s organization began in 2021, despite Capital One continuing to do business with them for more than a decade, which was abruptly terminated once Trump’s first term ended that same year.
Today, the Trump Organization filed a lawsuit in Miami-Dade County against @CapitalOne to hold the bank accountable for their egregious conduct in unjustifiably terminating over 300 of the company’s bank accounts without cause, in 2021.
— Eric Trump (@EricTrump) March 7, 2025
The decision by Capital One to “debank”…
The filing states that the Trump Organization has “reason to believe that Capital One’s unilateral decision came about due to political and social motivations and Capital One’s unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views.”
According to the lawsuit, the sudden closure of the accounts, which occurred "without prior notice or justification," caused significant financial damage and disruptions, cutting off the business's access to essential banking services. Eric Trump said Capital One’s actions have set a “dangerous precedent.”
The president’s son stated that the closure of the accounts has caused the company to suffer damages totaling "millions of dollars,” the Trump Organization is considering filing other “suits against financial organizations that engaged in similar conduct.”
In a statement, a Capital One spokesperson claimed the bank “has not and does not close customer accounts for political reasons.”