The Trump Organization has filed a lawsuit against Capital One after the financial company closed multiple accounts following the Jan. 6, 2021, Capitol riot.
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According to court documents obtained by CNBC, the Trump Organization and related entities stated they have reason to believe that “Capital One’s unilateral decision came about as a result of political and social motivations and Capital One’s unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views.”
The Trump Organization further declared in the filing, “In essence, Capital One ‘de-banked’ Plaintiffs’ Accounts because Capital One believed that the political tide at the moment favored doing so.”
CNBC further reported that the Trump Organization seeks a “declaratory judgment” that the financial company improperly terminated its accounts in June 2021. The Trump Organization also stated that Capital One’s decision had a “devastating impact” of termination on its inability to transact and access the funds.
Capitol One Closed the Trump Organization’s Accounts Four Months After the Jan. 6 Capitol Riot
The accounts were closed four months after President Trump’s supporters stormed the U.S. Capitol Building in protest against Joe Biden’s confirmation as the 46th President of the United States.
The lawsuit named plaintiffs are the Donald J. Trump Revocable Trust, DJT Holdings, DJT Holdings Managing Member, and DTTM Operations. Eric Trump, the President’s son, who runs the Trump Organization with his brother, Donald Trump Jr., has also been declared a plaintiff in the suit.
Alejandro Brito, a lawyer representing the Trump Organization, told CNBC that the company is “contemplating other suits against financial organizations that engaged in similar conduct.”
Brito further referred to Capital One’s actions as “an attack on free speech.”
A spokesperson issued a statement to CNBC as well. “Capital One has not and does not close customer accounts for political reasons.”
Eric Trump then spoke out in a statement. “The decision by Capital One to ‘debank’ our company, after well over a decade, was a clear attack on free speech and free enterprise,” he stated. “That flies in the face of the bedrock principles and freedoms that define our country.”