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Sen. Maggie Hassan demands Capital One Trump AML documents
Cris Tolomia
Updated Thu, September 3, 2026

Senator Maggie Hassan has requested documents from Capital One related to the bank's anti-money laundering review of accounts connected to President Donald Trump and his businesses, citing concerns about potentially illegal financial activities.

Senator Maggie Hassan, a New Hampshire Democrat and ranking member of the Joint Economic Committee, sent a letter to Capital One CEO Richard Fairbank on Tuesday requesting documents related to the bank's internal anti-money laundering review of accounts connected to President Donald Trump and his businesses.

Hassan's letter requested that Capital One hand over records covering what set off the AML review, how the bank's internal policies governed its conduct during that review, what conclusions prompted it to shut the accounts, and — where legally permissible — any contact or referrals involving federal or state law enforcement or regulators. The deadline for compliance is September 23, 2026.

"The American people deserve to know the extent of President Trump's 'suspicious' — and potentially illegal — financial activities, and Congress needs additional information to conduct thorough oversight of his actions," Hassan wrote in the letter.

The request stems from a July 31, 2026, court filing in which Capital One said it closed accounts held by the Trump Revocable Trust, Eric Trump, and affiliated companies for anti-money laundering reasons, following months of analysis by its AML team. The filing stated that transaction patterns identified during the review were among the types of activity flagged by federal banking guidance on identifying "Money Laundering and Terrorist Financing 'Red Flags.'" Capital One did not detail the specific transactions or disclose whether it reported its findings to law enforcement.

Capital One declined to comment, according to Reuters. A Trump Organization spokesperson called the AML review baseless, saying Capital One "manufactured a post hoc rationale by selectively resurrecting a handful of isolated transactions that had occurred years earlier," according to Reuters. The spokesperson characterized the account closures as a politically motivated decision.

The Trump Organization and Eric Trump filed suit against Capital One in March 2025, claiming that the bank shuttered hundreds of their affiliated accounts in 2021 for political rather than legitimate banking reasons. Capital One maintains that its decisions were not politically driven and has stopped short of alleging that the Trump Organization engaged in money laundering.

In her letter, Hassan cited a pattern of money laundering concerns tied to Trump-connected entities. She pointed to a $10 million fine that the Financial Crimes Enforcement Network imposed against the Trump Taj Mahal Casino in March 2015 for what it called significant and long-standing violations of anti-money laundering laws. Hassan also raised concerns about Trump's crypto venture, World Liberty Financial, and its ties to Binance, whose founder Changpeng Zhao pleaded guilty in 2023 to Bank Secrecy Act violations before receiving a presidential pardon from Trump.