Trump family refiles Capital One debanking – Business News
The Trump family has refiled its debanking lawsuit towards Capital One after a decide gave them a July deadline to submit a new criticism, reviving accusations that the bank closed their accounts for political causes.
On Friday, the final day to refile a criticism, Eric Trump submitted a new lawsuit on behalf of The Donald J. Trump Revocable Trust – alleging Capital One abruptly terminated tons of of accounts belonging to entities affiliated with the president after the Jan. 6, 2021 assaults on the Capitol.
“Capital One improperly and deliberately closed those accounts because the political environment in January 2021 made it expedient to do so,” mentioned the new criticism.
President Trump’s family trust is suing Capital One for allegedly debanking their accounts for political causes. Getty Images
While the unique criticism repeatedly accused Capital One of “woke” debanking, the new criticism nixed the epithet.
It famous that members of Congress throughout the political aisle have taken intention at debanking, particularly nodding to far-left Sen. Elizabeth Warren (D-Mass.).
In March 2025, the Trump family sued Capital One for allegedly debanking tons of of accounts in 2021 that had been tied to the president’s family members and held tens of millions of {dollars}.
The unique lawsuit claimed Capital One terminated the accounts attributable to “woke” beliefs that “it needed to distance itself from President Trump and his conservative political views.”
“I can’t tell you how hard it is to change more than 300 bank accounts – and for no reason whatsoever,” Eric Trump instructed Fox News Digital on the time. “These had been motels and golf programs, residential buildings and industrial buildings, stores and skating rinks and parking garages.
“There was no political affiliation,” he added. “The only common denominator was that they wore the Trump name.”
Sen. Elizabeth Warren (above) has grilled Eric Trump for solutions on the Capital One litigation. AP Photo/Jose Luis Magana
Capital One has denied claims it shuttered Trump-linked accounts attributable to political motivations.
The company didn’t instantly reply to The Post’s request for remark Monday.
Earlier this yr, US District Judge Roy Altman granted Capital One’s request to dismiss the “deficient” lawsuit, which he mentioned lacked particular particulars, however granted the Trump family a July 2, 2026, deadline to re-file the criticism. He later prolonged the deadline to July 17.
For her half, Warren has known as out President Trump for nominating Capital One exec Brian Johnson to run the Consumer Financial Protection Bureau whereas his family pursues litigation towards the identical bank.
In a letter despatched to Eric Trump earlier this month, completely obtained by The Post, Warren pressed for solutions on whether or not the family would re-file the criticism and for clarification on its points with the bank.
“In recent months, your father’s opinion has been very important to my Republican colleagues,” the lefty pol wrote to Eric, who runs The Trump Organization with brother Don Jr.
Capital One has denied claims it shuttered Trump-linked accounts attributable to political motivations. Corbis through Getty Images
“Given the Trump family’s allegations against Capital One and the role the CFPB would play in addressing concerns about debanking, it would be helpful for the Committee to understand your views on Capital One as it considers Mr. Johnson’s nomination.”
Johnson was scheduled to look earlier than the Senate Banking Committee for his affirmation listening to Thursday. Warren is the highest Dem on the committee.
The CFPB – which Warren initially proposed creating in 2007 – has seen extreme cuts beneath the Trump administration.
As of the tip of January, it had about 1,200 staff – down roughly 30% from earlier than Trump took workplace.
Last yr, White House funds chief Russ Vought slammed the CFPB as a “woke & weaponized agency.”
