(Digital Itla) US financial institution Capital One says it closed the Trump Organization's accounts following an anti-money laundering investigation.
Capital One Financial responded to a lawsuit over its decision years ago to close the Trump Organization’s bank accounts, stating that it took the action after a review by anti-money laundering experts.
This marks the first time a bank has officially linked money laundering concerns to US President Donald Trump's family business.
Capital One is seeking to dismiss the case by questioning the Trump Organization's claims of unlawful "de-banking"—or the denial of services on religious or political grounds.
Neither the Trump Organization nor Capital One immediately responded to requests for comment.
While Capital One never accused the Trump Organization of illegal money laundering, Friday's filing argues that "the documents and the plaintiff's own allegations make clear that Capital One closed the plaintiff's accounts for Anti-Money Laundering ('AML') reasons."
The closure was the result of months of analysis and careful review by Capital One's AML team, guided by banking regulations.
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