President Trump’s businesses have taken legal action against Capital One, claiming that the banking giant unfairly shut down hundreds of their accounts due to political bias. The lawsuit, filed in 2021, alleges that Capital One’s decision to terminate the accounts was motivated by the businesses’ association with the former president.
Trump’s businesses argue that Capital One’s actions were politically motivated and violated their rights. The lawsuit seeks damages for the alleged wrongful termination of the accounts and accuses Capital One of breach of contract and violating the Equal Credit Opportunity Act.
This legal battle is just the latest in a string of conflicts between President Trump and various financial institutions. In the wake of the January 6th Capitol riots, numerous banks and financial firms severed ties with Trump and his businesses, citing concerns over the former president’s role in inciting the violence.
Capital One has not publicly commented on the lawsuit, and it remains to be seen how the case will unfold in the coming months. President Trump’s businesses have consistently claimed that they are being unfairly targeted by financial institutions due to their association with the controversial former leader.
This latest legal action highlights the ongoing tensions between the business interests of the former president and the financial sector. As the case moves through the legal system, it will be closely watched by those on both sides of the political divide as a potential precedent for future conflicts between businesses and financial institutions based on political affiliations.
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