Politics
Trump Organization Sues Capital One
Clear Facts
- The Trump Organization has filed a lawsuit against Capital One, alleging the bank closed its accounts without cause.
- Eric Trump claims the closure of these accounts resulted in millions of dollars in losses for the Trump Organization.
- The lawsuit aims to prevent banks from closing accounts based on political affiliations.
Eric Trump has announced that the Trump Organization is taking legal action against Capital One, accusing the bank of unjustly closing its accounts in 2021. The lawsuit, filed in Miami-Dade Circuit Court, alleges that the abrupt termination of these accounts caused the organization to suffer significant financial losses.
Eric Trump expressed deep concern over the actions of Capital One, stating, “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.”
The issue of de-banking has been a hot topic, particularly among conservative groups who claim they have been unfairly targeted. Even former first lady Melania Trump has spoken out about losing accounts, adding weight to the argument that this practice is becoming increasingly prevalent.
In his statement, Eric Trump emphasized the broader implications of the lawsuit, asserting that it is designed to prevent financial institutions from penalizing businesses based on their political beliefs.
“Businesses should not be targeted or punished for their political affiliations,” he stated. “The actions taken by Capital One and other major financial institutions represent a dangerous precedent that could threaten the operations of countless businesses across the nation, particularly those with a strong and independent voice.”
The backdrop to this legal battle includes a previous lawsuit against Capital One by the Consumer Finance Protection Bureau, which was dropped by the Trump administration in February. This lawsuit accused the bank of misleading consumers about high-interest savings accounts.
Eric Trump concluded his remarks by underscoring the necessity of the lawsuit, saying, “This lawsuit, and those that follow, are necessary steps to protect the integrity of American business practices and to ensure that no company or individual is unfairly targeted for their beliefs, affiliations, or business activities.”
The Trump Organization’s legal challenge against Capital One highlights a growing tension between financial institutions and businesses with strong political identities. As this case unfolds, it may set a significant precedent for how banks handle accounts associated with politically active entities.
Let us know what you think, please share your thoughts in the comments below.
Andree
March 9, 2025 at 10:39 am
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March 9, 2025 at 10:41 am
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Old Patriot
March 9, 2025 at 6:31 pm
Hopefully the lawsuits are in a constitutional court, rather than the extreme left courts in DC and NYC
John
March 9, 2025 at 7:41 pm
Capital One will not be in my wallet.
Mark Steckloff
March 9, 2025 at 9:02 pm
Bette’s what I’d like to know about this lawsuit:
1. What defenses and counter-allegations Will Capital One raise? Will Crystal Clear News inform us of these defenses or will it continue to publish only one side of this dispute?
2. Did Capital One close these accounts AFTER the January 6 riots in the Capitol that sought to prevent the peaceful transfer of power? If that’s the case, it is clearly reacting to criminal ACTS, not mere “political affiliation”. Quite a difference.
3. Exactly what law(s) did Capital One violate? They are a private entity, not a state actor, and is not limited by the First Amendment.
Boyd P
March 11, 2025 at 10:30 pm
They were closing all MEGA members’ accounts back then, that’s what was going on
Fletcher
March 10, 2025 at 1:21 am
Lol spoken like a true ignorant lib.
Beverly Soltwedel
March 10, 2025 at 8:37 am
I believe the Trump Organization was illegally targeted. Capital One should pay heavily for the illegal stunt they pulled on the Trump family