debanking
Coverage of debanking in the Nexus archive.
- Trump bank accounts were closed due to concerns over possible money laundering, Capital One says
Capital One closed President Donald Trump's bank accounts in 2021 due to concerns over potential money laundering, according to a court filing. Trump's financial holding company sued Capital One, alleging illegal account closures for political reasons, while the bank claims the closures followed anti-money laundering policies. JPMorgan Chase is also named in a separate lawsuit seeking $5 billion, with both banks denying political motivations for terminating Trump-related accounts.
- Trump bank accounts were closed due to concerns over possible money laundering, Capital One says
Capital One closed President Donald Trump's bank accounts in 2021 due to financial activity flagged as potentially involving money laundering, according to a court filing. Trump's financial holding company sued Capital One, alleging the closures were politically motivated following the Jan. 6 Capitol attacks. The bank denies political intent, stating the closures followed anti-money laundering policies. A separate lawsuit against JPMorgan Chase seeks $5 billion, with both banks denying political reasons for ending their relationships with Trump and his businesses.
- Major US Banks Face Federal Probe Over Debanking Allegations
The Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Federal Housing Finance Agency are taking steps to impose a Dodd-Frank Act rule requiring banks to claw back executive pay for excessive risk-taking. The action addresses allegations of debanking against major US banks.