Trump Organization sues Capital One for debanking after Jan. 6 protest

The Trump Organization sued Capital One Bank on Friday for having unjustifiably closed its accounts after the Jan. 6th riot.

President Donald Trump’s son Eric, who serves as vice president of the organization, confirmed the lawsuit in a Twitter/X statement,

“Today, the Trump Organization filed a lawsuit in Miami-Dade County against @CapitalOne to hold the bank accountable for their egregious conduct in unjustifiably terminating over 300 of the company’s bank accounts without cause, in 2021,” he wrote.

“By filing this lawsuit, we seek to hold Capital One accountable for the millions of dollars in damages they caused, not just to our company, but to the many dozens of properties, hundreds of tenants and thousands of Trump Organization employees who relied on these accounts for their livelihoods,” he added.

Look:

Today, the Trump Organization filed a lawsuit in Miami-Dade County against @CapitalOne to hold the bank accountable for their egregious conduct in unjustifiably terminating over 300 of the company’s bank accounts without cause, in 2021.

The decision by Capital One to “debank”…

— Eric Trump (@EricTrump) March 7, 2025

The lawsuit claims that Capital One’s decision to debank the Trump Organization “came about as a result of political and social motivations and Capital One’s unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views.”

“In essence, Capital One ‘de-banked’ Plaintiffs’ Accounts because Capital One believed that the political tide at the moment favored doing so,” the lawsuit continues.

Eric Trump stressed this in his own statement as well, writing that the debanking of the Trump Organization was “a clear attack on free speech and free enterprise that flies in the face of the bedrock principles and freedoms that define our country.”

Some have even speculated that Capital One was “told” by someone — presumably someone with political power — to debank the Trump Organization.

The question should be, who told Capital One to de-bank the Trump Organization. Someone came down hard on them to make this happen. This should be pursued by appropriate oversight agencies. I think the results would be…interesting https://t.co/zvOBHkhXfd

— Steve Ferguson (@lsferguson) March 8, 2025

In a statement to CNBC, Trump Organization attorney Alejandro Brito also described Capital One’s actions as “an attack on free speech.” He further revealed that the Trump Organization “is contemplating other suits against financial organizations that engaged in similar conduct.”

These other financial organizations include Deutsche Bank and Signature Bank, both of which also stopped conducting business with President Donald Trump and his family/businesses immediately after the Jan. 6th riot.

“Deutsche Bank AG decided not to conduct more business with Trump or his family company while waiting for him to pay off roughly $300 million in loans in years ahead,” Bloomberg reported on Jan. 12th, 2021.

“Manhattan-based Signature Bank, a mere 10-minute walk down Fifth Avenue from Trump Tower, announced it’s closing Trump accounts holding about $5.3 million,” its reporting continued.

Regarding Capital One, they suddenly informed the Trump Organization in March of 2021 — about three months after the riot — that they’d be closing the company’s 300 or so bank accounts in two months.

It’s not clear why the Trump family chose to go after them first given as Deutsche Bank and Signature Bank had closed their accounts much earlier. Capital One, for its part, claims its decision to close the Trump Organization’s accounts had nothing to do with politics.

“Capital One has not and does not close customer accounts for political reasons,” a spokesperson told CNN.

CNN further notes that the closing of the Trump Organization’s Capital One accounts came amid several investigations.

“Its long-time accountants were subpoenaed for financial records by the Manhattan district attorney’s office,” CNN notes. “Employees at Trump’s insurer and one of its lenders, Deutsche Bank, were interviewed by prosecutors. The New York attorney general’s office interviewed Trump’s long-time chief financial officer as part of its civil investigation.”

“Two Trump Organization entities were indicted on tax fraud charges that July and found guilty at trial. The following year, the attorney general’s office sued the Trumps and its business for engaging in a decade long fraud. A New York state judge found the Trumps liable for fraud for inflating the value of certain assets to obtain loans and issued a $454 million judgement, which is on appeal,” according to CNN.

Senior Staff Writer
[email protected]

V. Saxena is a staff writer for BizPac Review with a decade of experience as a professional writer, and a lifetime of experience as an avid news junkie. He holds a degree in computer technology from Purdue University.

Latest posts by Vivek Saxena (see all)

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.