Capital One Shuts Down Over 300 Trump Organization Accounts in Move Seen Against Money Laundering: Court Docs [View all]

[iemanja]

Capital One has reportedly closed more than 300 accounts belonging to the Trump Organization as well as various accounts belonging to numerous Trump family members, according to legal filings. The accounts affiliated with the Trump Organization held millions of dollars belonging to them and their affiliated entities.

The Trump Organization has accused the bank of “egregious conduct” for shutting down these accounts. The legal documents claim that Capital One’s actions were a “clear attack on free speech and free enterprise,” which goes against the core freedoms that the U.S. stands for.

The practice of debanking is a measure used by banks to prevent money laundering. But the Trump Organization has accused banks of closing accounts for political reasons, with banks saying it’s to protect their reputation.

Trump's lawsuit: Wah wah wah. Poor me. Mean bank. Being a criminal is my first amendment right.

A Capital One spokesperson responded, saying, “Capital One has not and does not close customer accounts for political reasons.”

https://dailyboulder.com/capital-one-shuts-down-over-300-trump-organization-accounts-in-move-seen-against-money-laundering-court-docs/