FLORIDA — Capital One filed a motion to dismiss the Trump Organization's lawsuit in a Florida federal court. The bank asked the court to permanently dismiss the new complaint without another chance to refile.

The financial institution stated it closed Trump Organization accounts for anti-money laundering reasons following a monthslong internal review. Capital One argued that federal banking-secrecy law barred it from disclosing internal anti-money-laundering findings. The bank also filed a separate motion asking the court to keep sealed a portion of an exhibit containing information protected under the Bank Secrecy Act.

The Trump Organization and Eric Trump filed the lawsuit in March 2025. The legal action involves approximately 385 accounts tied to the Trump Organization, Eric Trump, and affiliated businesses. The Trump Organization alleges Capital One closed the accounts due to political reasons related to the January 6, 2021 Capitol riot.

An entire portion of the sealed complaint is titled January 6, 2021: The Political Trigger. Large sections of the Trump-linked amended complaint from July remain blacked out under a court-approved sealing order. The Trump companies are contesting several redactions Capital One wants to keep in place.

Capital One stated its financial-crimes team staffed by employees with decades of law enforcement experience conducted the review. The bank stated the transaction patterns identified were among the types of activity flagged by federal banking guidance. Capital One has never accused the Trump Organization of illegal money laundering.

The bank stated it had the contractual right to close any account at any time, for any or no reason and without notice. Capital One gave the Trump companies months plus several extensions to move their money elsewhere. The bank stated it never publicized the termination decision nor its confidential internal process giving rise to the closure. Capital One stated the Trump Organization’s allegations of political pretext were misguided and based on cherry-picked quotations unsupported by the full context.

Presiding judge Roy Altman dismissed an earlier version of the lawsuit in March. The federal court in Miami has already dismissed two versions of the lawsuit while allowing the plaintiffs to amend their complaint. Capital One gave notice of its plans to close the accounts in March 2021.

The bank notified the Trump Organization in March 2021 that it would close more than 300 affiliated accounts. Trump filed a separate lawsuit against JPMorgan Chase on similar grounds earlier this year. The Trump Organization is businesses owned by Donald Trump. Capital One was established in 1994.

The dispute centers on the application of federal banking-secrecy laws and the scope of judicial review over private banking decisions. The Timely Delivery of Bank Secrecy Act Reports Act was sponsored by Rep. Waters, Maxine [D-CA-43]. The latest action on the bill saw it received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Florida HB 175 (Payment Stablecoin) was sponsored by Commerce Committee. Its latest action resulted in Chapter No. 2026-176, with companion bill(s) passed, see CS/CS/HB 1087 (Ch. 2026-130). PureSource News previously reported that Trump Negotiates $1.7 Billion Fund, Drops $10B IRS Lawsuit. PureSource News previously reported that the Trump Administration Launches Trump Accounts Program on July 4. PureSource News previously reported that Trump Accounts Enroll More Than 6 Million Children.

Why It Matters

The case tests the scope of judicial review over private banking decisions when institutions cite federal Bank Secrecy Act protections to withhold internal findings. A ruling on Capital One's motion to permanently dismiss the complaint could establish whether banks can rely on confidential anti-money laundering reviews to defend against claims of political bias without disclosing specific evidence. The outcome affects how approximately 385 accounts are managed under contractual rights versus allegations of politically motivated closures.