Trump Organization sues Capital One over closure of 300 business accounts
The Trump family’s holding company, now led by Eric Trump, has filed a lawsuit against Capital One, alleging that the bank illegally de-banked over 300 accounts belonging to The Trump Organization.
The lawsuit claims the decision was politically motivated and caused significant financial damage. According to Eric Trump, these accounts held millions of dollars and were used for hotels, golf courses, and other business ventures. However, Capital One provided no clear reasons for closing the accounts and offered no solutions for recovery.
Crypto reserve increased tensions between traditional finance and the crypto sector
According to The Coin Republic, the de-banking period is not tied to the current election campaign but dates back to Donald Trump’s presidency, when he explored the possibility of introducing a crypto reserve.
The lawsuit argues that Capital One’s actions reflect a growing trend where banks profile clients based on political affiliation.
Recently, Donald Trump suggested that the creation of a crypto reserve sparked interest from the financial sector, and some analysts believe that the closure of Trump Organization’s accounts may be linked to the banking industry's decision to cut ties with Trump and his businesses.
Reports indicate that traditional financial institutions are concerned about the growing role of cryptocurrency in political financing. At the same time, Trump’s involvement in digital assets is also being questioned by the public.
Legal and legislative pushback against political de-banking
The Capital One case coincides with new legislative efforts to combat political de-banking. Recently, Senator Tim Scott introduced the Financial Integrity and Regulatory Management (FIRM) Act, which aims to prevent banks from using reputational risk as a regulatory factor.
The bill mandates oversight to ensure fair treatment of account holders, regardless of political beliefs. Additionally, Scott seeks to block federal banking agencies from using reputation-based concerns to limit financial access.
Eric Trump claims that de-banking disrupted delicate business operations and led to financial instability, making it difficult to transfer funds and open new accounts.
The lawsuit filed by The Trump Organization also highlights the urgent need for legal and legislative solutions to de-banking issues, arguing that Capital One’s actions reflect systemic problems within the financial sector.
As we wrote, Donald Trump’s meme coin ($TRUMP), which captured the attention of the entire crypto community, experienced a sharp rise followed by an equally dramatic crash within weeks of its launch.
Latest Business News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
