U.S. President Donald Trump speaks with members of the media on the South Garden earlier than boarding Marine One on the White Home, in Washington, D.C., U.S., Feb. 28, 2025.
Nathan Howard | Reuters
The Trump Group sued Capital One in Florida on Friday for allegedly “unjustifiably” closing greater than 300 of the corporate’s financial institution accounts on the heels of the Jan. 6, 2021, riot on the U.S. Capitol by a mob of President Donald Trump‘s supporters.
The lawsuit stated that the Trump Group and associated entities “have purpose to imagine that Capital One’s unilateral choice took place because of political and social motivations and Capital One’s unsubstantiated, ‘woke’ beliefs that it wanted to distance itself from President Trump and his conservative political beliefs.”
“In essence, Capital One ‘de-banked’ Plaintiffs’ Accounts as a result of Capital One believed that the political tide for the time being favored doing so,” the Trump Group claims within the civil case filed within the Eleventh Judicial Circuit Courtroom in Miami-Dade County.
The swimsuit seeks a declaratory judgment that the financial institution improperly terminated the Trump firms’ accounts in June 2021, in addition to punitive and different financial damages for what the swimsuit alleged was “the devastating affect” of the terminations on the businesses’ capacity to transact and entry their funds.
The closures got here greater than 4 months after the riot on the U.S. Capitol, which started after Trump for weeks falsely claimed that he had gained the 2020 presidential election over former President Joe Biden.
The swimsuit’s named plaintiffs are the Donald J. Trump Revocable Belief, DJT Holdings, DJT Holdings Managing Member, DTTM Operations, and Eric Trump, the president’s son, who along with his brother, Donald Trump Jr., runs the Trump Group.
Son of Former US President Donald Trump, Eric Trump attends the second day of the 2024 Republican Nationwide Conference on the Fiserv Discussion board in Milwaukee, Wisconsin, July 16, 2024.
Angela Weiss | AFP | Getty Photographs
The criticism says the plaintiffs and affiliated entities held tons of of accounts at Capital One for many years earlier than they had been closed. Eric Trump stated the quantity of damages suffered by the businesses is “tens of millions of {dollars}.”
A spokesperson for the financial institution wrote in an e-mail to CNBC, “Capital One has not and doesn’t shut buyer accounts for political causes.”
The emblem for client lending agency Capital One Monetary Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
Win Mcnamee | Getty Photographs Information | Getty Photographs
Eric Trump stated in an announcement, “The choice by Capital One to ‘debank’ our firm, after properly over a decade, was a transparent assault on free speech and free enterprise that flies within the face of the bedrock rules and freedoms that outline our nation.”
“Furthermore, the arbitrary closure of those accounts, with out justifiable trigger, displays a broader effort to silence and undermine the success of the Trump Group and those that dare to specific their political beliefs,” stated Eric Trump.
