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Sen. Elizabeth Warren presses Eric Trump for update on Capital One de-banking lawsuit

July 2, 2026
in Business
Reading Time: 3 mins read
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Sen. Elizabeth Warren presses Eric Trump for update on Capital One de-banking lawsuit
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Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, is asking Eric Trump to confirm whether his family will resume legal action against Capital One over allegations it de-banked family-linked accounts, The Post has learned.

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The far-left pol asked for answers on whether the Trump family will re-file its lawsuit against Capital One by an upcoming deadline this month, after accusing the bank of blocking the president and his family’s accounts out of “woke” political motives.

The inquiry is part of Warren’s probe into Brian Johnson, a Capital One exec whom Trump nominated to lead the Consumer Financial Protection Bureau, which the White House has gutted. His nomination is currently awaiting Senate approval.

Sen. Elizabeth Warren is asking Eric Trump to confirm whether his family will resume legal action against Capital One. REUTERS

“In recent months, your father’s opinion has been very important to my Republican colleagues,” Warren wrote in a letter sent Thursday to Eric Trump, who runs The Trump Organization with brother Don Jr.

“Given the Trump family’s allegations against Capital One and the role the CFPB would play in addressing concerns about de-banking, it would be helpful for the Committee to understand your views on Capital One as it considers Mr. Johnson’s nomination,” she added.

“It would also be helpful to understand your family’s plans, if any, to re-file the claims you brought against Capital One by Judge Altman’s July 17, 2026, deadline.”

In March 2025, the Trump family sued Capital One for allegedly de-banking hundreds of accounts in 2021 that were tied to the president’s family members and held millions of dollars.

The Trump family sued Capital One in March 2025. REUTERS

The lawsuit claimed Capital One terminated the accounts due to “woke” beliefs that “it needed to distance itself from President Trump and his conservative political views.”

“I can’t tell you how hard it is to change more than 300 bank accounts – and for no reason whatsoever,” Eric Trump told Fox News Digital at the time. “These were hotels and golf courses, residential buildings and commercial buildings, retail outlets and skating rinks and parking garages.

“There was no political affiliation,” he added. “The only common denominator was that they wore the Trump name.”

Capital One has denied claims it shuttered Trump-linked accounts due to political discrimination.

Eric Trump runs The Trump Organization with his brother Don Jr. USA TODAY Network via Reuters Connect

Earlier this year, US District Judge Roy Altman granted Capital One’s request to dismiss the “deficient” lawsuit, which he said lacked specific details, but granted the Trump family a July 2, 2026, deadline to re-file the complaint. He later extended the deadline to July 17.

Warren is also investigating whether Johnson played a role in the CFPB’s decision last year to terminate a Biden-era lawsuit against Capital One, according to Bloomberg Law.

CFPB, the creation of which was first proposed by Warren, has seen sharp drops in its employees’ ranks since Trump took office.

The agency, which is meant to protect consumers in the financial sector, had about 1,200 employees at the end of January — down roughly 30% from before Trump took office.

“The CFPB has been a woke & weaponized agency against disfavored industries and individuals for a long time. This must end,” White House budget chief Russ Vought wrote last year on X.

The White House recently stepped back from plans to fire the remaining 90% of the staff, saying in April it wants to fire half, instead.

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