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.
