The news: The Trump Organization—a conglomerate privately owned by President Trump—sued Capital One for closing hundreds of its accounts in January 2021, alleging political discrimination, per Yahoo Finance.
Capital One responded to media inquiries that it “has not and does not close customer accounts for political reasons.”
Larger implications: According to Credit Slips, the lawsuit doesn’t have strong standing on its own. Banks can refuse service for any reason unless discrimination laws are violated—and political views are not a protected class.