Key facts
- Capital One closed accounts associated with the Trump Organization.
- The bank cited an anti-money laundering probe as the reason for closing the accounts.
- This is the first time a bank has cited anti-money laundering concerns for account closures.
Capital One closed accounts belonging to the Trump Organization in 2021, citing concerns related to an anti-money laundering probe. This marks the first instance of a bank citing such issues for account closures.
The bank's decision to close the accounts was reportedly due to an anti-money laundering investigation, according to a report by The New York Times.