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U.S.-based Capital One Financial has responded to a lawsuit filed against it regarding its decision to close bank accounts belonging to the Trump Organization, affirming that the move followed a review conducted by anti-money laundering (AML) specialists.

This marks the first time a bank has officially linked a decision concerning the business of U.S. President Donald Trump’s family to anti-money laundering concerns. Capital One is actively seeking to dismiss the lawsuit by challenging the plaintiffs' claims that the organization was denied banking services for political or ideological reasons.

Neither the Trump Organization nor Capital One immediately responded to Reuters' requests for comment.

Bank: We Did Not Accuse the Trump Organization of Money Laundering

Capital One emphasized that it has never accused the Trump Organization of engaging in illegal money laundering operations. However, the bank clarified in a court filing that the documents and the plaintiffs' own allegations confirm that the account closures were executed for reasons related to AML regulations.

The bank further stated that the decision was the culmination of months of rigorous analysis and review conducted by its AML team, strictly adhering to the bank's internal policies and regulatory guidelines.