Capital One Closed Trump Organization Accounts After Anti-Money Laundering Review
According to a report based on legal filings, Capital One Financial (COF) closed several of the Trump Organization's bank accounts in 2021 following an anti-money laundering review. The decision was reportedly made as part of internal compliance procedures and not due to any criminal allegations. The bank disclosed this information while defending itself against a lawsuit related to its handling of these accounts, highlighting that it followed standard protocols for financial institutions dealing with potential money laundering risks. This move aligns with broader regulatory scrutiny faced by banks associated with high-profile clients.
Tickers: $COF
Topics: AML banking compliance corporate accounts