Eric Trump announces lawsuit against Capital One over alleged de-banking of Trump Organization accounts

The Trump Organization is suing Capital One for de-banking its accounts in 2021, according to Eric Trump.

The lawsuit was filed in Miami-Dade Circuit Court and claimed that the Trump Organization lost millions of dollars due to the shutdown of hundreds of its bank accounts at Capital One without cause.

'The actions taken by Capital One and other major financial institutions represents a dangerous precedent that could threaten the operations of countless businesses.'

The practice of de-banking has been a contentious issue after numerous conservative organizations and individuals said that their accounts were shut down without cause, including first lady Melania Trump, who talked in October about losing accounts.

"The decision by Capital One to 'debank' our company, after well over a decade, was a clear attack on free speech and free enterprise that flies in the face of the bedrock principles and freedoms that define our country," Eric Trump wrote. "Moreover, the arbitrary closure of these accounts, without justifiable cause, reflects a broader effort to silence and undermine the success of the Trump Organization and those who dare to express their political views."

He went on to say that the lawsuit was intended to prevent banks from trying to shut down accounts from others over their political views.

"Businesses should not be targeted or punished for their political affiliations," he added. "The actions taken by Capital One and other major financial institutions represents a dangerous precedent that could threaten the operations of countless businesses across the nation, particularly those with a strong and independent voice."

Some noted that the Trump administration had ended a lawsuit in February against Capital One from the Consumer Finance Protection Bureau for allegedly "cheating" consumers out of $2 billion by misleading them about high-interest savings accounts.

"This lawsuit, and those that follow, are necessary steps to protect the integrity of American business practices and to ensure that no company or individual is unfairly targeted for their beliefs, affiliations, or business activities," Trump concluded. "We will not stand by while big banks misuse their power to stifle businesses and harm innocent Americans."

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