Trump trust sues Capital One over 300 accounts in refiled lawsuit

The Trump family revived its legal battle against Capital One Financial Corp., alleging the bank closed hundreds of accounts for political reasons after the Jan. 6 Capitol attack.

The Trump family refiled its debanking lawsuit against Capital One Financial Corp. on July 20, alleging the bank abruptly terminated more than 300 accounts tied to the president after the Jan. 6, 2021, Capitol attack.

"Capital One improperly and deliberately closed those accounts because the political environment in January 2021 made it expedient to do so," the new complaint said, filed by Eric Trump on behalf of The Donald J. Trump Revocable Trust.

The refiled complaint dropped the "woke" label that appeared in the original March 2025 lawsuit, which US District Judge Roy Altman dismissed for lacking specific details. The judge granted a July 2 deadline to refile, later extended to July 17. The new complaint noted that members of Congress across the political aisle have scrutinized debanking, including Sen. Elizabeth Warren, the Massachusetts Democrat.

The lawsuit adds legal and reputational pressure on Capital One as the bank faces scrutiny from both parties over account closures tied to political affiliation. The case also intersects with the nomination of Capital One executive Brian Johnson to lead the Consumer Financial Protection Bureau, which Warren has highlighted as a conflict of interest.

Capital One has denied the allegations, saying the account closures were not politically motivated. The company declined to comment on the refiled complaint.

The original lawsuit, filed in March 2025, claimed Capital One terminated the accounts because of "woke" beliefs that "it needed to distance itself from President Trump and his conservative political views." Eric Trump told Fox News Digital at the time that the accounts spanned hotels, golf courses, residential buildings, commercial properties, retail outlets, skating rinks and parking garages.

"I can't tell you how hard it is to change more than 300 bank accounts — and for no reason whatsoever," Eric Trump said. "There was no political affiliation. The only common denominator was that they wore the Trump name."

The debanking issue has drawn bipartisan attention in Washington. Warren, the top Democrat on the Senate Banking Committee, sent a letter to Eric Trump earlier this month pressing for answers on whether the family would refile the complaint and seeking clarification on its grievances with Capital One. She also criticized President Trump for nominating Johnson to run the CFPB while his family pursues litigation against the same bank.

"In recent months, your father's opinion has been very important to my Republican colleagues," Warren wrote in the letter, obtained by the New York Post. "Given the Trump family's allegations against Capital One and the role the CFPB would play in addressing concerns about debanking, it would be helpful for the Committee to understand your views on Capital One as it considers Mr. Johnson's nomination."

Johnson was scheduled to appear before the Senate Banking Committee for his confirmation hearing on July 23. The CFPB, which Warren initially proposed creating in 2007, has seen its workforce shrink to about 1,200 employees — down roughly 30% from before Trump took office. White House budget chief Russ Vought last year called the agency "woke & weaponized."

The case is among several legal battles involving Trump family businesses and financial institutions. The outcome could influence how banks assess political risk in customer relationships and whether Congress moves to codify protections against debanking based on political affiliation.

This article is for informational purposes only and does not constitute investment advice.