The document marks the first time the bank has formally linked money laundering concerns to its decision to terminate services to President Donald Trump's family business.

Capital One has not accused the Trump Organization of illegal money laundering. The bank said the account closures were made in accordance with internal policies and regulatory requirements after its specialists reviewed the activity associated with the accounts.

According to the document, the transaction patterns identified during the review were consistent with the types of activity outlined by federal banking guidelines.

The lender notified the Trump Organization in March 2021 of its intention to close the accounts. The Trump Organization and Eric Trump filed a lawsuit in Florida federal court in March 2025. They alleged that Capital One terminated their relationship for political reasons following the January 6, 2021, riot at the U.S. Capitol.

A Miami federal court dismissed two previous versions of the complaint but allowed the plaintiffs to file amended documents.

Capital One asked the court to dismiss the latest complaint, filed in July, arguing that it contained the same fundamental flaws as the previous versions. The bank called the allegations of political motivation misguided and based on selective quotes taken out of context.

The dispute unfolds amid growing political scrutiny of bank account closures. Trump signed an executive order in August 2025 prohibiting financial institutions from denying services to customers based on political or religious grounds.

In January, the president filed a separate lawsuit against JPMorgan Chase & Co. (New York: JPM), also alleging discriminatory denial of banking services.

Earlier in 2019, Trump sued Capital One and Deutsche Bank AG NA O.N. (New York: DB) in an attempt to prevent them from providing financial reports to Congress during an investigation by Democratic lawmakers.

The Trump Organization and Capital One did not immediately respond to requests for comment.