Capital One closed Trump-linked accounts after internal investigation flagged money laundering red flags

Capital One closed multiple accounts connected to President Donald Trump after an internal investigation identified 'suspicious transactions' matching 'Money Laundering and Terrorist Financing Red Flags.' The closures came to light through a letter from Senator Maggie Hassan, Ranking Member of the Joint Economic Committee, demanding documents from Capital One CEO Richard Fairbank. Hassan cited past money laundering issues involving Trump businesses, including a 2015 $10 million FinCEN fine against Trump Taj Mahal and concerns over World Liberty Financial's ties to Binance and a suspected money launderer. She set a September 23, 2026 deadline for the records, arguing Congress needs the information for oversight of potential wrongdoing.