Overview
- Capital One filed a motion this week asking the U.S. District Court in Miami to dismiss with prejudice a suit by the Donald J. Trump Revocable Trust, saying its anti‑money‑laundering team conducted months of review before closing more than 300 accounts.
- The plaintiffs say roughly 385 accounts were affected and filed a heavily redacted second amended complaint on July 17, 2026 that alleges the closures were politically motivated after the January 6, 2021 events.
- Court filings do not disclose the substance of Capital One’s AML findings, and the bank says its deposit agreement lets it close accounts “in our sole discretion at any time for any or no reason,” a clause central to the legal fight.
- A judge has not yet ruled on Capital One’s latest motion and lawyers warn that discovery could expose confidential AML work; the outcome may also influence a separate $5 billion case against JPMorgan Chase over similar debanking claims.
- The dispute spotlights how bank compliance duties under anti‑money‑laundering law can be confidential, how contract termination clauses limit customer claims, and how courts may weigh alleged political bias versus banks’ regulatory obligations.