All articles tagged with #debanking
Capital One disclosed in a Florida court filing that it closed more than 300 Trump Organization accounts in 2021 due to anti-money-laundering patterns, denying political motivation and noting a months-long, law-enforcement–style review; the Trump Organization has challenged the rationale, while Capital One says affected clients were allowed to find new banking services as the litigation unfolds.
Capital One says it closed more than 300 Trump Organization accounts in 2021 after review by its AML team, tying the closures to anti-money-laundering concerns and asking a Florida federal court to dismiss the Trump Organization’s lawsuit alleging political discrimination in debanking.
Capital One says it closed more than 300 Trump Organization accounts in 2021 after an anti-money-laundering review, a disclosure tying AML concerns to the Trump business for the first time. The bank argues the closures followed months of AML analysis in line with policy and regulatory guidance and is seeking to dismiss a Florida lawsuit alleging debanking for political reasons, noting the case has faced dismissals and amendments while the broader policy environment around banks remains charged.
Capital One says it closed more than 300 Trump Organization accounts after a months-long AML review, arguing the closures were for anti-money-laundering reasons, not political bias as the Trump Organization alleges in a 2025 lawsuit; the bank is seeking dismissal, noting that some complaints have been dismissed and others amended as the case continues in federal court.
Capital One says it closed the Trump Organization's accounts after months of anti-money laundering review, arguing the action was AML-driven and that it sought to dismiss a lawsuit alleging politically motivated debanking.
Sen. Elizabeth Warren asks Eric Trump to confirm if the Trump family will re-file its Capital One de-banking lawsuit by the July deadline as part of a Senate Banking Committee inquiry into Capital One and CFPB nominee Brian Johnson; the suit, which Capital One denies, previously was dismissed but allowed a July deadline to re-file, with the July 17 date referenced; Warren’s questions also touch on Johnson’s role in a Biden-era Capital One action and the CFPB’s staffing declines under the current administration.
Federal prosecutors have subpoenaed JPMorgan Chase, Bank of America, Wells Fargo and other banks in a sweeping criminal probe into whether they debanked customers for political reasons, demanding lists of closed accounts and the rationale behind closures. The investigation, led by the DC US attorney’s office, could invoke the Financial Institutions Reform, Recovery and Enforcement Act of 1989, though it remains unclear which law the banks may have violated; banks say they follow regulations and do not drop customers for politics.
FTC Chairman Andrew N. Ferguson sent warning letters to the CEOs of PayPal, Stripe, Visa, and Mastercard, reiterating their obligations under the FTC Act and warning that denying access to financial services based on political or religious views could violate the law and trigger enforcement, referencing a 2025 executive order on debanking.
JPMorgan Chase acknowledged in court filings that it closed Donald Trump and Trump Organization accounts after the January 6 Capitol attack, a fact cited in Trump’s $5 billion lawsuit alleging politically motivated debanking; the bank said the closures included a two‑month transfer window and argued New York is the proper forum, as the dispute underscores a broader debate over politically targeted banking.
JPMorgan Chase disclosed in a court filing that it closed certain Trump accounts in February 2021 after the Jan. 6 Capitol attack, marking the first written admission in Trump’s lawsuit alleging political motives behind debanking. The bank seeks to move the case from state to federal court and to New York for jurisdiction, as Trump’s lawyers push the dispute over alleged reputational blacklisting and damages in a high-stakes legal battle.
President Donald Trump sues JPMorgan Chase and CEO Jamie Dimon for $5 billion, alleging the bank’s decision to close his accounts after Jan. 6 was a politically motivated act of “debanking.” The article notes the bank gave 60 days’ notice, argues there’s no right to a bank of one’s choosing, and points out that Trump has filed similar banking-related suits (including against Capital One). It also highlights Trump’s private attorney Alejandro Brito, who leads other defamation and banking-related suits, framing these actions as pressure tactics against powerful institutions.
Former President Donald Trump filed a Florida civil suit against JPMorgan Chase, alleging the bank debanked him for political reasons after a 2021 notice to move funds and a later 'blacklist' of his accounts, seeking $5 billion. The filing argues the actions were politically motivated and cites federal investigations, while critics note Florida’s consumer-protection statute lacks a private right of action, framing the move as a high-profile, controversial legal gambit.
Former President Donald Trump filed a Miami complaint seeking at least $5 billion from JPMorgan Chase and CEO Jamie Dimon, accusing the bank of debanking him after the January 6 Capitol riot and discriminating against him; JPMorgan has not commented, with more details expected.
Former President Donald Trump filed a Florida state court suit against JPMorgan Chase and CEO Jamie Dimon, seeking at least $5 billion in civil damages, alleging the bank closed his and related accounts in early 2021 for political reasons after the Jan. 6 riot; JPMorgan says the suit lacks merit and that it does not close accounts for political or religious reasons, noting it closes accounts to manage legal or regulatory risk, while the case raises questions about whether banks are restricting access to banking based on political views.
President Trump says he plans to sue JPMorgan Chase within two weeks over alleged improper debanking after January 6, while denying a Wall Street Journal report that he offered Jamie Dimon the Federal Reserve chair role, tying the dispute to his broader critique of banks' political bias.