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Business

Capital One says money-laundering review, not Jan. 6, led to Trump Organization account closures

Capital One is asking a judge to permanently dismiss a lawsuit filed by Trump-affiliated businesses, arguing that hundreds of account closures in 2021 resulted from a months-long internal review by its anti-money-laundering team, not from the Jan. 6 riot at the U.S. Capitol. The bank said the review prompted the shutdown of the accounts, pushing back against the plaintiffs' claims that the closures were politically motivated. The lawsuit, brought by businesses linked to former President Donald Trump, sought to challenge the bank's decision. Capital One maintains that its actions were based on standard financial scrutiny, citing concerns related to money laundering. The bank's request to dismiss the case is now before a judge, who will decide whether the lawsuit should proceed.

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