The Trump Organization is suing Capital One, claiming the bank wrongly closed over 300 of its accounts. The lawsuit alleges the closures were politically motivated, targeting the Trump family’s conservative views.
Political Bias Allegations
The lawsuit argues Capital One’s actions were driven by “woke” beliefs and a desire to distance itself from President Trump. It claims this is part of a larger trend of banks cutting off customers whose political views differ from their own. The suit accuses Capital One of using its power to coerce people into changing their political stances.
Trump’s Public Criticism
This lawsuit follows Trump’s public attacks on Bank of America and JPMorgan Chase. He accused both banks of unfairly denying services to conservatives and called on them to “open their banks” to those who’ve been shut out.
Industry-Wide Concerns
JPMorgan Chase CEO Jamie Dimon recently acknowledged that banks sometimes “push people out of the system” due to stringent anti-money laundering regulations. However, he denied that political or religious bias was a factor at Chase, attributing account closures to regulatory pressures. This highlights a broader debate about potential discrimination within the financial sector.
