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Former President Donald Trump and his son Eric Trump have filed a lawsuit against Capital One, alleging the bank unlawfully terminated hundreds of Trump-affiliated accounts in the wake of the January 6, 2021, Capitol riot. The suit, filed Friday in Florida’s Eleventh Judicial Circuit, claims the abrupt closures caused “considerable financial harm and losses” to the Trump Organization and its related entities.

Trump Entities Allege ‘Political Retaliation’

The lawsuit, brought by the Donald J. Trump Revocable Trust, two Trump holding companies, and Eric Trump, asserts that Capital One’s decision to sever ties was based on political bias rather than legitimate financial concerns.

"Plaintiffs have reason to believe that Capital One’s unilateral decision came about as a result of political and social motivations and Capital One's unsubstantiated 'woke' beliefs that it needed to distance itself from President Trump and his conservative political views," the suit states.

The complaint argues that the move was part of a growing trend among financial institutions to “de-bank” individuals and businesses whose political stances conflict with those of the banking establishment.

Capital One’s Account Termination Sparks Legal Battle

According to the filing, Capital One informed the Trump entities on March 8, 2021, that their accounts would be closed by June 7. While the bank extended some closures beyond the original deadline, the Trump companies claim they were left scrambling to inform business partners, vendors, and creditors of the sudden financial disruption.

The lawsuit emphasizes that Florida law prohibits financial institutions from terminating banking relationships based on political opinions, affiliations, or speech. By allegedly disregarding this legal protection, the complaint argues, Capital One unfairly targeted Trump-affiliated entities in an effort to distance itself from the former president.

Republicans Sound Alarm on ‘De-Banking’ Practices

The lawsuit comes amid growing Republican concerns that major financial institutions are weaponizing their services against conservative figures and organizations. Right-wing activists have increasingly accused banks of discriminating against Christian groups, Trump supporters, and other customers whose values do not align with those of the broader financial industry.

The term “de-banking” has become a flashpoint in political discourse, referring to the practice of closing accounts or denying services based on ideological differences. Trump’s legal action adds fuel to the fire, as conservative leaders push for regulatory oversight to prevent what they see as politically motivated financial exclusion.

Eric Trump Hints at More Legal Action

Eric Trump, who has taken a leading role in his father’s business operations, hinted that the Capital One lawsuit may be just the beginning. In a statement posted on X (formerly Twitter), he suggested that similar legal challenges could follow against other financial institutions.

"Businesses should not be targeted or punished for their political affiliations," the statement reads. "The actions taken by Capital One and other major financial institutions represent a dangerous precedent that could threaten the operations of countless businesses across the nation, particularly those with a strong and independent voice."

Trump’s legal team argues that such banking practices could create a chilling effect on political expression, forcing companies to align with prevailing ideological trends or risk financial instability.

Capital One Remains Silent on Allegations

As of Friday, Capital One had not responded to requests for comment on the lawsuit. The Trump entities are represented by attorneys Alejandro Brito and Ian Michael Corp of Brito PLLC. Counsel information for Capital One was not immediately available.

The case is expected to draw national attention as debates over corporate influence, financial fairness, and political discrimination continue to escalate in both legal and legislative arenas.