Capital One closes Trump Organization accounts after money-laundering probe
Capital One said it closed accounts belonging to the Trump Organization following an internal anti-money-laundering investigation. It is the first time a major bank has formally tied money-laundering concerns to President Donald Trump's family business.
Capital One confirmed it closed banking accounts held by the Trump Organization after an internal review flagged concerns under its anti-money-laundering compliance program. The bank did not disclose the size of the accounts or provide further detail on the specific transactions that triggered the review.
The disclosure marks the first time a major US bank has formally tied money-laundering concerns to a business belonging to President Donald Trump's family. The Trump Organization has not issued a detailed public response beyond disputing the characterization of the closures.
The episode adds to a series of banking relationships the Trump Organization has lost or had scrutinized in recent years, and it raises fresh questions about how financial institutions manage compliance obligations involving politically prominent clients.
Read next
Australia fears bleak milestone as H5 bird flu spreads off South Australia
Australian authorities fear the country may have reached a bleak milestone in the spread of H5 bird flu, after a large group of dead and sick birds was discovered off South Australia's coast. Wildlife officials are assessing the scale of the outbreak.
Milei decree allows Argentina to expel foreigners over hate speech
Tanzania's president unveils roadmap for a new constitution
Ceuta situation 'almost entirely reversed' as death toll climbs to 67, Spain says
