The U.S. Senate Demands Explanations Regarding the Closure of Trump's Accounts
Democratic Senator Maggie Hassan called on the U.S. bank Capital One to explain the reasons for closing accounts linked to Donald Trump and his companies. In a letter to the bank’s CEO, Richard Farbank, she requested documents regarding transactions, internal alerts, and other circumstances that prompted an investigation under anti-money laundering regulations.
The senator is also interested in whether Capital One has been in contact with law enforcement agencies or financial regulators regarding this matter.
“The American people deserve to know,” wrote Hassan, who is the ranking Democrat on the Congressional Joint Economic Committee.
It is worth noting that the dispute has been ongoing since 2025, when the Trump Organization and the president’s son, Eric Trump, filed a lawsuit against the bank. They claim that Capital One closed hundreds of accounts linked to them as early as 2021 for political reasons.
The bank denies this. In court documents, Capital One stated that the decision was made following a thorough internal review by the anti-money laundering team in accordance with the bank’s policies and regulatory guidelines.
However, Capital One has never accused the Trump Organization of money laundering. The Trump side, in turn, calls such an audit merely a pretext for closing the accounts.
Ghassan’s inquiry could provide Congress with more information not only about the financial transactions of Trump’s companies but also about his claims regarding so-called “debanking”—the denial of banking services allegedly for political or religious reasons.
During his second presidential term, Trump repeatedly claimed that major financial institutions discriminate against conservatives. The banking sector denies this and insists that accounts are closed in compliance with federal requirements.
In August 2025, Trump signed an executive order aimed at combating discriminatory debanking, and in January he filed a similar lawsuit against JPMorgan Chase. The bank also rejects the allegations.
Source: Reuters.
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