What's actually happening with the Capital One / Trump Organization bank account lawsuit?

Seeing this trending with a huge amount of searches. What's the actual dispute here, and what does each side claim?

This is an active, unresolved lawsuit, so here's what's confirmed on the record from each side. In March 2021, Capital One notified the Trump Organization it planned to close more than 300 accounts affiliated with the company. In March 2025, the Trump Organization and Eric Trump sued Capital One in federal court in Florida, alleging the accounts were closed for political reasons tied to the January 6, 2021 Capitol riot — a practice sometimes called "debanking." In a court filing made public around July 31-August 1, 2026, Capital One pushed back, stating for the first time that the closures followed a months-long internal anti-money-laundering (AML) review that flagged transaction patterns matching types of activity called out in federal banking guidance — while explicitly stating it has never accused the Trump Organization of actual illegal money laundering. Capital One is asking the court to dismiss the case, arguing the political-motivation claims are unsupported; a spokesperson for Trump's legal team has called the closures politically motivated and said the lawsuit will be pursued to a "just and proper conclusion." The case remains pending — a judge has not ruled on Capital One's dismissal request as of this writing, and this is a similar dispute to one the Trump Organization has separately filed against JPMorgan Chase over the same debanking allegation.