Senator Maggie Hassan is seeking records from Capital One ($COF) about an internal anti-money laundering review the bank says led it to close hundreds of accounts linked to President Donald Trump and his businesses in 2021, according to a letter first reported by Reuters.
- Hassan asked Capital One CEO Richard Fairbank for documents detailing transactions, alerts and other activity that triggered the bank's review.
- She also requested information on the policies applied, findings behind the closures and any permitted communications or referrals to law enforcement and regulators.
- Capital One said in a July court filing that its AML team conducted the review under bank policies and regulatory guidance and has denied politically motivated closures.
- The Trump Organization and Eric Trump sued Capital One in March 2025, alleging the closures were politically motivated.
- Trump has separately sued JPMorgan Chase ($JPM) over similar debanking allegations, which the bank denies.
Relevant Companies
- Capital One ($COF) - Faces congressional scrutiny over its review and closure of Trump-linked accounts.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
