Democratic US senator asks Capital One for details on Trump account anti-money laundering review

Democratic U.S. Senator Maggie Hassan has requested Capital One Financial to provide details regarding an internal anti-money laundering review that led to the closure of accounts associated with President Donald Trump and his businesses. The senator's letter, sent to Capital One CEO Richard Fairbank and reported by Reuters, seeks documents outlining the transactions, alerts, and other factors that prompted the review.

Hassan, the top Democrat on the Joint Economic Committee, emphasized the need for the American people to have this information for congressional oversight. In the letter, Hassan asked Capital One to identify the activity that triggered the review, explain the policies applied, describe the findings leading to account closures, and disclose any referrals or communications with federal or state authorities related to the matter.

The Trump Organization and Eric Trump had previously sued Capital One in March 2025, alleging that the bank's closure of hundreds of affiliated accounts in 2021 was politically motivated. The bank has denied any political motivations for the closures, stating that they were the result of a thorough review by its AML team following bank policies and regulatory guidance.