Tallahassee, Florida - Capital One bank on Friday asked a federal judge to dismiss a lawsuit brought by The Trump Organization in 2021 over the closure of its bank accounts due to money laundering concerns.
Lawyers representing the bank on Friday issued a motion to dismiss a lawsuit brought by The Trump Organization alleging Capital One had shut down its accounts in retaliation for the January 6 Capitol insurrection.
Instead, the lawyers wrote that the bank had made it clear that the decision was made "for anti-money laundering reasons" after "months of analysis and a careful review" by its financial-crimes team.
The filings do suggest, however, that the decision was taken quickly after the financial-crimes team's review, and the Trump Organization was not given time to address money laundering concerns before its accounts were closed.
In March 2021, the bank gave notice to the Trump Organization that it planned to close more than 300 Trump-affiliated accounts, including some owned by the president's children.
While Capital One has not made any specific allegations of money laundering, it has used references to its internal investigation to cast doubt on the Trump Organization's claims it was illegally debanked on religious or political grounds.
It wrote in the filing that such allegations are "misguided" and "based on cherry-picked quotations unsupported by the full context."
The Trump Organization has yet to respond to requests for comment from multiple news outlets.
"What's in Trump's wallet?" asked former Obama-era White House Chief of Staff Rahm Emanuel, a potential 2028 presidential candidate, in a post on X responding to Capital One's legal filing.
"Dirty cash that even Capital One won’t touch," he wrote. "300+ Trump Organization accounts shut down after a money laundering review."
"What did they see? Unmarked bills? Yuan? Rubles? Sovereign wealth proceeds? This discovery should be illuminating."