Bank accounts held by US President Donald Trump were closed by Capital One in 2021 after it flagged financial activity that had characteristics of money laundering, the bank disclosed in a court filing over the weekend. Trump alleges that Capital One illegally closed his accounts for political reasons, following the January 6 attacks on the US Capitol. Trump has sued Capital One, as well as JPMorgan Chase, for allegedly debanking him after he left office in 2021. Both banks have denied they severed their relationships with the president, his sons, and other related businesses for political reasons. JPMorgan has said it does not close accounts for political reasons, but closes accounts “with or without cause” and also accounts that create “legal or regulatory risk”.