The Trump Organization Sues Capital One Over Alleged Politically Motivated Account Closures

Introduction to the Lawsuit

The Trump Organization has filed a lawsuit against Capital One, accusing the bank of unjustifiably closing more than 300 of its bank accounts, as well as accounts belonging to numerous Trump family members, in 2021. Eric Trump, a key figure in the organization, has vowed to hold major corporations accountable for what he describes as politically biased actions. The lawsuit, filed in the Circuit Court of the Eleventh Judicial Circuit for Miami-Dade County, Florida, alleges that Capital One’s decision was motivated by political and social bias against former President Donald Trump and his conservative views. The plaintiffs in the case include Eric Trump, the Donald J. Trump Revocable Trust, and several other entities linked to the Trump Organization.

Background of the Account Closures

The trouble began on March 8, 2021, when Capital One notified the Trump Organization and its affiliates that it would be closing hundreds of accounts under their control. The accounts, which were actively used for business transactions, were set to be terminated on June 7, 2021. According to the lawsuit, Capital One provided no advance notice, offered no explanation, and gave the Trumps no recourse or alternative—its decision was final. These accounts held millions of dollars and were essential to the financial operations of the Trump Organization. Eric Trump revealed that the closed accounts included those tied to hotels, golf courses, residential and commercial buildings, retail outlets, and even parking garages, emphasizing that these were not political entities but legitimate businesses.

Allegations of Political Motivation

The lawsuit claims that Capital One’s decision to close the accounts was part of a broader, politically driven effort to “debank” individuals and businesses associated with President Trump. The Trump Organization accuses the bank of bowing to “woke” beliefs and attempting to distance itself from the former president and his conservative views. The lawsuit states that Capital One’s actions caused significant financial harm, disrupting access to banking services and Making it difficult for the Trump Organization to conduct business. It also alleges that this behavior is part of a growing trend in the financial industry, where institutions are cutting ties with customers whose political views do not align with their own.

The Broader Context of Political Bias in Banking

The Trump Organization’s lawsuit sheds light on a contentious issue: the practice of debanking, or the termination of banking services, allegedly based on political views. Eric Trump has been vocal about what he calls the “weaponization” of corporate power, accusing banks like Capital One of targeting conservative individuals and businesses. He told Fox News Digital that the unconditional closure of 300 accounts was not only damaging to the Trump Organization but also harmful to the tens of thousands of employees whose livelihoods depend on these businesses. Trump emphasized that this kind of politically motivated action is un-American and detrimental to the fairness and neutrality that should govern financial institutions.

The Impact on the Trump Organization

The lawsuit highlights the significant financial and operational challenges caused by Capital One’s actions. The Trump Organization had a long-standing and profitable relationship with the bank, having deposited and transacted hundreds of millions of dollars over the years. The abrupt closure of the accounts not only disrupted business operations but also caused reputational damage. The lawsuit seeks to hold Capital One accountable for these losses and to draw attention to what it describes as a systemic abuse of power by financial institutions.

Conclusion and Implications for the Future

The Trump Organization’s lawsuit against Capital One is not just about recovering damages; it’s also about challenging what it sees as a dangerous trend of political bias in corporate America. Eric Trump has made it clear that this is just the beginning, hinting that other banks, such as Chase, Bank of America, and TD Bank, which also closed Trump-related accounts, could face similar legal action. Capital One has denied the allegations, stating that it does not close accounts for political reasons. However, the case raises important questions about the role of politics in banking and the need for accountability in corporate decision-making. For the Trump Organization, this lawsuit is a fight not only for their own interests but also for what they believe is a fundamental American principle: the right to fair treatment regardless of political beliefs.