Capital One revealed in a court filing last week that it closed more than 300 bank accounts affiliated with the Trump Organization in 2021 following a review that flagged the accounts for money laundering.
The revelation came in response to a lawsuit filed by the president’s family business, which alleges that the bank severed ties for politically motivated reasons in the wake of the Jan.6 insurrection.
Raising the question: why do the Trumps file these stupid lawsuits?
Related question: do their lawyers not tell them ahead of time about the discovery process?
The Trumps are trying to make the case that they were “debanked” because of their politics.
Capital One, in its filing in the case last week, noted that its decision to close the Trump Organization accounts followed “months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance.”
“The transaction patterns identified by Capital One are among the types of activity flagged by federal banking guidance,” per the filing.
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Chris Graham
