Trump Organization Sues Capital One Over Bank Account Closures
The Trump Organization files a lawsuit against Capital One for allegedly closing accounts due to political biases impacting their business.
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The lawsuit said that the Trump Organization and related entities 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.
Trump Organization sues Capital One bank over account closures after Jan. 6 Capitol riot
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Plaintiffs argued that Capital One is just part of a growing trend among major financial institutions to de-bank clients with conflicting political views.
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Capital One’s conduct is but one example of a systemic, subversive industry practice that aims to coerce the public to shift and re-align their political views.
Trump Organization sues Capital One for closing its bank accounts four years ago | Business
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Summary
The Trump Organization has filed a lawsuit against Capital One in Florida, alleging that the bank closed more than 300 of its accounts due to the political views of President Trump. The suit claims that the account closures, which took place in 2021 after the January 6 Capitol riot, were politically motivated and caused significant financial harm to the organization. Capital One denies the allegations, stating that accounts are not closed for political reasons. The lawsuit seeks declaratory judgment and monetary damages, highlighting broader concerns about financial institutions' political biases.
Perspectives
The Trump Organization is suing Capital One for allegedly unjustifiably closing their accounts due to perceived political and social motivations, particularly following the January 6th Capitol events.
The lawsuit seeks damages for the financial impact caused by the account closures and aims to challenge what they see as discriminatory banking practices against politically conservative clients.
Capital One maintains that the account closures were not politically motivated and that they did not engage in de-banking practices based on political affiliations.