US President Donald Trump speaks to media members on the South Lawn on February 28, 2025, before riding a Marine in the White House in Washington, D.C.
Nathan Howard | Reuters
Trump organization sued Capital 1 A riot at the U.S. Capitol by a mob of President Donald Trump’s supporters in Florida on Friday after allegedly “unfairly” shutting down a company’s bank account shortly after January 6, 2021.
The lawsuit states that Trump’s organization and related entities “have reason to believe that the unilateral decision of capital was a result of political and social motivations and the unproven capital.”
“Essentially, Capital One believed that the political trends support doing so, so Capital One explains the “bank plaintiffs”.” 11th Judicial Circuit Miami-Dade County Courthouse.
The lawsuit seeks a declarative ruling that the bank incorrectly terminated the Trump company’s account in June 2021 and punitive damages for what the lawsuit alleges.
The closure came more than four months after the riot at the U.S. Capitol. This falsely claimed that Trump won the 2020 presidential election against former President Joe Biden after it began in a few weeks.
The named plaintiffs in the lawsuit are Eric Trump, the son of the president, whose revocable trust, DJT Holdings, DJT Holdings, DTTM Operations, and brother Donald Trump Jr., who runs the Trump organization.
Eric Trump, son of former US President Donald Trump, will be attending the second day of the 2024 Republican National Convention, held at the Fiserv Forum in Milwaukee, Wisconsin, July 16, 2024.
Angela Weiss | AFP | Getty Images
The plaintiff and associated entities have held hundreds of accounts in Capital 1 for decades before closing, according to the complaint. Eric Trump said the losses that businesses suffered were “millions of dollars.”
Alejandro Brito, the lawyer representing the Trump organization in the lawsuit, told CNBC that he was “considering other lawsuits against financial institutions engaged in similar conduct.”
Brito said Capital’s actions were “an attack on freedom of speech.”
A bank spokesman wrote in an email to CNBC that “Capital One has not closed its customer accounts and has not closed its customers accounts for political reasons.”
The logo of consumer lending company Capital One Financial Corp will be found at its headquarters on January 20, 2023 in McLean, Virginia.
Win McNamee | Getty Images News | Getty Images
“For over a decade, Capital One’s decision to “debank” our company has been a clear attack on free speech and free companies that fly in the face of the bedrock principles and freedom that define our country,” Eric Trump said in a statement.
Furthermore, the arbitrary closure of these accounts without justification is a reflection of broader efforts to silence and undermine the Trump organization and the courage to express political views,” Eric Trump said.
