Trump Organization, Eric Trump sue Capital One for ‘unjustifiable’ de-banking based on ‘woke’ beliefs in 2021
The Trump Organization is taking legal action against Capital One after the bank abruptly terminated over 300 of the company’s bank accounts and accounts belonging to various Trump family members in 2021. Eric Trump, speaking to Fox News Digital, expressed his determination to hold major corporations accountable for what he described as unjustified cancellations based on political bias.
The lawsuit was filed against Capital One in the Circuit Court of the Eleventh Judicial Circuit for Miami-Dade County, Florida, with Eric Trump, the Donald J. Trump Revocable Trust, DJT Holdings, DJT Holdings Managing Member, and DTTM Operations listed as plaintiffs. The lawsuit alleges that Capital One notified Trump and the plaintiffs on March 8, 2021, that their accounts would be closed on June 7, 2021, without providing any recourse or alternative options.
According to the lawsuit, the accounts held millions of dollars belonging to the Trump Organization and its affiliated entities, which had conducted significant financial transactions with Capital One over the years. The abrupt termination of the accounts caused considerable financial harm to the plaintiffs and impeded their ability to transact and access their funds.
The lawsuit accuses Capital One of making the decision to close the accounts based on political and social motivations, as well as unsubstantiated beliefs that the bank needed to distance itself from President Trump and his conservative views. It also alleges that Capital One’s actions are part of a broader trend among financial institutions in the United States to cut off banking services to individuals or entities with differing political views.
Eric Trump emphasized the detrimental impact of Capital One’s decision on the Trump Organization’s various business ventures, including golf courses, residential buildings, retail outlets, and other properties bearing the Trump name. He condemned the weaponization of corporate America and big banks, vowing to hold them accountable for the harm inflicted on individuals with opposing views.
Trump highlighted the challenges of changing more than 300 bank accounts and reiterated his commitment to fighting against what he sees as political lawfare and unjust corporate practices. He also hinted at potential legal action against other banks, such as Chase, Bank of America, and TD Bank, that had dealings with Trump at the time.
Capital One has yet to respond to requests for comment on the lawsuit. The Trump Organization’s legal battle with the bank underscores the growing concerns about the politicization of financial services and the need to address the issue of debanking, which can have far-reaching consequences for individuals and businesses.
