Capital One has defended its decision to close more than 300 bank accounts belonging to the Trump Organization, telling a U.S. court the move followed an internal anti-money laundering (AML) review rather than political considerations, according to Reuters. The filing was the first time a financial institution has publicly said its decision to end its banking relationship with the Trump Organization was linked to anti-money laundering compliance concerns. Capital One stressed, however, that it is not accusing the Trump Organization of money laundering or any other criminal wrongdoing. The case stems from a lawsuit filed in March 2025 by the Trump Organization, the family business of U.S. President Donald Trump, and his son Eric Trump. Capital One rejected those claims, calling them “misguided” and arguing the lawsuit relies on selective quotations taken out of context.