Aug. 3 (UPI) — Capital One attorneys said in court documents that the bank closed the Trump Organization’s accounts over concerns about money laundering.
Attorneys for the bank have asked a federal judge to dismiss a lawsuit brought by President Donald Trump over it closing hundreds of Trump Organization accounts in 2021. The motion filed by Capital One on Friday clarifies that money laundering concerns were the reason the accounts were closed.
“The closures were the result of months of analysis and a careful review by Capital One’s [anti-money-laundering] team in accordance with bank policies and regulatory guidance,” the court files read.
Trump argues that banks have “debanked” him and other conservatives for their political views. This followed the Jan. 6, 2021, riot at the U.S. Capitol. He has also filed a lawsuit against JPMorgan Chase for the same allegations and sought $5 billion in damages.
Capital One argues that the Trump Organization’s accounts were closed in a lawful manner.
“Instead, Plaintiffs attempt to keep their misguided allegations of political discrimination alive by speculating that Capital One’s anti-money laundering concerns were pretextual and claiming that Plaintiffs were somehow ‘misled’ by the contractually permitted closure decision,” the court filings read.
The bank adds that its contracts with clients give it the discretion to close any account “at any time, for any reason or no reason and without notice.”
About 385 accounts with ties to the Trump Organization, Executive Vice President Eric Trump and other affiliated businesses were closed in total.
In March, U.S. District Judge Roy Altman granted a previous motion by Capital One to dismiss the initial lawsuit that allowed Trump a limited window to refile. Trump and plaintiffs since filed an amended complaint that Capital One says suffer from “the same fundamental flaws as their prior two pleadings.”
If Capital One’s latest motion for dismissal is granted, the Trump Organization will be barred from filing another lawsuit.