Trump Organization Files Lawsuit Against Capital One for Political Bias in Account Terminations

Trump Organization Files Lawsuit Against Capital One for Political Bias in Account Terminations

The Trump Organization has initiated legal action against Capital One, alleging that the bank inappropriately closed over 300 of its accounts in 2021 due to perceived political biases. Eric Trump, a spokesperson for the organization, asserts that major companies must be held accountable for what he describes as the unacceptable practice of canceling relationships based on political beliefs.

The lawsuit was filed on Friday in the Circuit Court of the Eleventh Judicial Circuit for Miami-Dade County, Florida. Among the plaintiffs are Eric Trump, the Donald J. Trump Revocable Trust, DJT Holdings, and DTTM Operations.

Termination of Accounts

In a communication dated March 8, 2021, Capital One notified the Trump Organization that hundreds of accounts they managed would be closed by June 7, 2021. The lawsuit claims that the bank provided no recourse or alternative options, indicating that its decision was final.

The accounts, belonging to the Trump Organization and its affiliated entities, held millions of dollars. Eric Trump revealed that the closure affected many accounts tied not only to their business operations but also to numerous family members.

Financial Impact and Allegations of Political Motivation

The Trump Organization has stated in the lawsuit that it has effectively deposited, transacted, and leveraged hundreds of millions of dollars with Capital One to support and expand its business ventures. Company representatives argue that Capital One significantly profited from their relationship, benefiting from their solid financial standing and the prestige associated with being linked to President Trump.

According to the lawsuit, the bank made a unilateral decision to terminate accounts without prior notification, leading to considerable financial losses for the plaintiffs. The document alleges that this action stemmed from political and social motivations, suggesting the bank adopted ‘woke’ beliefs and took steps to distance itself from President Trump and his conservative views.

A Broader Concern of Political Bias in Banking

The lawsuit continues to assert that Capital One’s actions are part of a troubling trend among financial institutions in the United States. The plaintiffs argue that banks increasingly cut off access to their services for individuals whose political opinions clash with those of the institutions. This shift raises questions about the fairness and impartiality of banking services in a polarized political climate.

Moreover, the lawsuit frames Capital One’s conduct as part of an overarching, systemic issue aimed at pressuring the public to conform to specific political ideologies.

Public Interest and Accountability

The Trump Organization seeks to illuminate the broader implications of their lawsuit, emphasizing the importance of addressing this perceived injustice in the banking sector. Eric Trump has voiced his concerns over the actions taken by Capital One, describing them as indicative of a larger pattern of corporate irresponsibility and political weaponization in America.

In a statement to Fox News Digital, he remarked on the challenges associated with abruptly changing over 300 bank accounts. He emphasized that the entities involved — from hotels and golf courses to retail and commercial buildings — do not engage in political activities. Instead, he noted that the only connection among the affected accounts was their association with the Trump name.

Political Tensions in Corporate America

Eric Trump further expressed his dismay at what he describes as the weaponization of corporate power. He asserted that Americans are increasingly frustrated with corporations that prioritize political agendas over fair business practices. The notion of