Trump Organization sues Capital One for de-banking – Business News
The Trump Organization is suing Capital One for allegedly de-banking hundreds of accounts tied to the president’s family members due to allegedly “woke” political motives.
“I can’t tell you how hard it is to change more than 300 bank accounts – and for no reason whatsoever,” Eric Trump, executive vice president of the Trump Organization, told Fox News Digital. “These were hotels and golf courses, residential buildings and commercial buildings, retail outlets and skating rinks and parking garages.”
“There was no political affiliation,” he added. “The only common denominator was that they wore the Trump name.”
The Trump Organization, and Eric Trump, are suing Capital One for allegedly closing their accounts due to political motivations. AFP via Getty Images
Capital One denied claims they shuttered Trump-linked accounts due to political motives.
“Capital One has not and does not close customer accounts for political reasons,” a spokesperson told The Post in a statement.
In March 2021, Capital One notified the Trump Organization that it was terminating hundreds of their bank accounts, which held millions of dollars, according to the lawsuit filed Friday in the Eleventh Judicial Circuit of Florida.
The bank did not provide any “recourse, remedy or alternative – its decision was final,” the lawsuit claimed.
The Trump Organization and its holdings accused Capital One of shuttering its accounts due to “woke” beliefs that “it needed to distance itself from President Trump and his conservative political views,” the suit said.
The Trump Organization and its holdings accused Capital One of shuttering its accounts due to “woke” beliefs. Christopher Sadowski
Plaintiffs argued that Capital One is just part of a growing trend among major financial institutions to de-bank clients with conflicting political views.
The lawsuit said the Trump Organization is suing Capital One to “shed light on a matter of great public interest and importance.”
Sources indicated to Fox News that Chase, Bank of America and TD Bank also cut ties with Trump, and could be hit with similar legal actions over the next few weeks.
Eric, the Donald J. Trump Revocable Trust, DJT Holdings, DJT Holdings Managing Member and DTTM Operations are also seeking attorney’s fees, and punitive damages “at the appropriate time.”
The plaintiffs requested a jury trial.
