Capital One told a federal judge that it closed the Trump Organization’s deposit accounts in 2021 after its anti-money-laundering (AML) team flagged compliance concerns, according to a motion to dismiss filed July 31 in the Southern District of Florida.

The filing, which seeks dismissal of a second amended complaint brought by the Donald J. Trump Revocable Trust and related plaintiffs, states that the closures resulted from a review by the bank’s AML staff carried out in accordance with bank policies and regulatory guidance. The bank said the plaintiffs’ own allegations and the documents attached to their complaint make clear the accounts were closed for AML reasons.

Capital One said the transaction patterns its analysts identified are among the categories of activity flagged by federal banking guidance, citing the Federal Financial Institutions Examination Council’s BSA/AML examination manual and its appendix on money laundering and terrorist financing red flags. The bank did not identify the transactions in the public filing and has not accused the plaintiffs of illegal money laundering.

The filing describes the reviewers as AML professionals with decades of law enforcement experience and says the plaintiffs cannot meaningfully criticize the process that produced the closure decision.

Capital One notified the plaintiffs by letter on March 8, 2021, that it would terminate many of their deposit accounts by June 7, 2021, according to the motion. The letters gave three months’ notice and no reason, and the bank granted extensions at the plaintiffs’ request, the filing states. The closures affected more than 300 Trump-affiliated accounts, Reuters reported.

The bank argued that it had no obligation to explain the decision. Its account rules permit closure “for any or no reason,” the filing says. Capital One also argued that federal law would bar disclosure of certain information about its AML activities, citing the Bank Secrecy Act’s confidentiality provisions and noting that a bank’s BSA compliance obligations run to the U.S. government rather than to individual customers.

The plaintiffs allege the AML rationale was a pretext for politically motivated de-banking. Capital One called those allegations misguided and said they rest on quotations selected without the full context of the documents cited. The bank said it never publicized the closure decision or the internal process behind it, and that the rationale became public only because the plaintiffs attached internal bank documents to a public pleading.

Judge Roy K. Altman dismissed the first amended complaint on March 20, 2026, ruling that the account rules gave both parties discretion to end the relationship, and allowed a 90-day discovery period and leave to re-plead, according to the filing. The plaintiffs filed the second amended complaint on July 17. Capital One is asking that it be dismissed with prejudice.