US bank Capital One has formally stated for the first time that it closed more than 300 Trump Organization bank accounts in March 2021 following a review by its anti-money-laundering (AML) team, citing suspicious transaction patterns consistent with federal banking guidance. The disclosure came in a court filing seeking to dismiss a lawsuit brought in March 2025 by the Trump Organization and Eric Trump, who alleged the closures were politically motivated by the bank's "woke" ideology and its reaction to the January 6, 2021 Capitol riot. Capital One has stopped short of directly accusing the Trump Organization of money laundering, but its filing argues the closures resulted from months of careful AML analysis — marking the first time a bank has formally linked financial crime concerns to the Trump family business in a legal proceeding.