Trump Organization sues Capital One for closing bank accounts after January 6 riot

The Trump Organization on Friday sued Capital One bank for allegedly closing hundreds of its accounts in the aftermath of the January 6 riot in 2021. 

The bank allegedly closed more than 300 of the company's accounts in June of 2021, months after the riot, even though they had been customers of the bank for decades, according to NBC News.

The lawsuit, which was filed in Florida, alleged that the bank's actions were the result of "political and social motivations."

"[Plaintiffs] have reason to believe that Capital One’s unilateral decision came about as a result of political and social motivations and Capital One’s unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views," the lawsuit said. 

“In essence, Capital One ‘de-banked’ Plaintiffs’ Accounts because Capital One believed that the political tide at the moment favored doing so,” it added.

The Organization is seeking a declaratory judgment that the bank improperly terminated the Trump companies’ accounts, along with punitive and monetary damages for “the devastating impact” the closures had on the company.

"The decision by Capital One to ‘debank’ our company, after well over a decade, was a clear attack on free speech and free enterprise that flies in the face of the bedrock principles and freedoms that define our country," Eric Trump, who helps run the Trump Organization, said in a statement. 

“Moreover, the arbitrary closure of these accounts, without justifiable cause, reflects a broader effort to silence and undermine the success of the Trump Organization and those who dare to express their political views,” he added.

Capital One has denied the allegations, stating that it "has not and does not close customer accounts for political reasons.”

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.