Capital One cites money laundering probe to justify closure of Trump Organization bank accounts

Source Summary

Capital One Financial on Friday defended its decision to close more than 300 Trump-affiliated bank accounts in 2021, stating that it did so after an anti-money laundering review. Lawyers for the Trump Organization had alleged in response that the accounts had been closed for political reasons. The ‌disclosure marks the first time a bank has formally tied money laundering concerns to US President Donald Trump's family business.