Capital One closed more than 300 Trump-affiliated accounts in 2021. The Trump Organization sued in March 2025 alleging political animus. A federal judge dismis…
The Bank Secrecy Act, enacted in 1970, is the foundational US anti-money-laundering statute, requiring financial institutions to keep records and file reports useful in…
The Money Laundering Control Act of 1986 made money laundering a distinct federal crime for the first time, giving prosecutors a direct charge rather than relying solely…
Enacted after the September 11 attacks, the USA PATRIOT Act significantly broadened US financial institutions' AML and customer-identification obligations, including inf…
About two months before the Trump-account notifications, Capital One was fined roughly $390 million by FinCEN for failures in its Bank Secrecy Act/AML compliance program…
Capital One notified Trump-affiliated entities on March 8, 2021 that accounts they controlled, benefited from, or actively used would be closed; the closures took effect…
The Trump Organization filed suit in the US District Court for the Southern District of Florida, alleging Capital One closed hundreds of its business accounts out of pol…
US District Judge Roy Altman ruled the original complaint "deficient for numerous reasons" and lacking specificity, but found the Trump Organization had done "just enoug…
Following the Trump Organization's amended complaint, Capital One filed a motion to dismiss stating the accounts were closed after "months of analysis and a careful revi…
Read the complete story, FAQs and key facts.