Capital One says its decision to shut over 300 Trump Organization accounts followed a routine anti-money laundering review, not political bias.
Capital One has told a US court that it closed more than 300 bank accounts linked to the Trump Organization following an internal anti-money laundering (AML) review, denying claims that politics drove the decision. The bank said the review began months before the March 2021 closures and was conducted by its AML team in line with banking policies and regulatory guidance.
According to The Independent, citing Reuters, Capital One clarified that although the review flagged AML-related concerns, it has never accused the Trump Organization of illegal money laundering.
The disclosure came as Capital One asked a judge to dismiss a lawsuit filed by the Trump Organization and Eric Trump, who allege the closures were politically motivated rather than based on legitimate banking concerns.
NEWS NOW:
