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The disclosure marks the first time a bank has formally tied money-laundering concerns to US President Donald Trump's family business. Capital One is seeking to dismiss the case by casting doubt on claims of illegally debanking " or denying services on religious or political grounds " the Trump Organization.

Capital One has never accused the Trump Organization of illegal money laundering. But Friday's filing argues that "documents and Plaintiffs' own allegations make clear that Capital One closed Plaintiffs' accounts for anti-money laundering ("AML") reasons. The closures were the result of months of analysis and a careful review by Capital One's AML team in accordance with bank policies and regulatory guidance."