(Luis Cornelio, Headline USA) Capital One may soon face consequences for unilaterally debanking Republican accounts after the Trump Organization and members of the Trump family filed a lawsuit for shutting down their accounts in 2021.
Following the protests of Jan. 6, Capital One abruptly closed roughly 300 accounts belonging to several Trump family members and their affiliated entities. These accounts held millions of dollars, according to Eric Trump, who shared the lawsuit with Fox News on Friday.
“By filing this lawsuit, we seek to hold Capital One accountable for the millions of dollars in damages they caused, not just to our company, but to the many dozens of properties, hundreds of tenants and thousands of Trump Organization employees who relied on these accounts for their livelihoods,” Trump wrote on X.
He described the debanking as a major assault on free speech and free enterprise, which “flies in the face of the bedrock principles and freedoms that define our country.”
Trump noted that the financial censorship occurred despite the Trump Organization playing no role in the violence of Jan. 6.
Today, the Trump Organization filed a lawsuit in Miami-Dade County against @CapitalOne to hold the bank accountable for their egregious conduct in unjustifiably terminating over 300 of the company’s bank accounts without cause, in 2021.
The decision by Capital One to “debank”…— Eric Trump (@EricTrump) March 7, 2025
Capital One informed the Trump family on March 8, 2021, that their bank accounts would be closed on June 7, 2021. The financial institution allegedly offered no “recourse, remedy, or alternative — its decision was final.”
“Businesses should not be targeted or punished for their political affiliations,” Trump added. “The actions taken by Capital One and other major financial institutions represents [sic] a dangerous precedent that could threaten the operations of countless businesses across the nation, particularly those with a strong and independent voice.”
The lawsuit was filed in the Circuit Court of the Eleventh Judicial Circuit for Miami-Dade County in Florida. The plaintiffs include Trump, Donald J. Trump Revocable Trust, DJT Holdings, DJT Holdings Managing Member and DTTM Operations.
The lawsuit comes in the wake of social media companies settling lawsuits filed by President Donald Trump after they censored him following Jan. 6. Meta and X settled their Trump lawsuit for $25 million and $10 million, respectively.
