Court documents revealing that President Donald Trump was de-banked after a money laundering probe have been linked to a reinvigorated effort to protect him from prosecution by acting Attorney General Todd Blanche.
Capital One's July 31 filing marked the first time a bank formally tied anti-money laundering concerns to Trump's business empire, according to Al Jazeera.
Two days later, Blanche tried to lock in a written guarantee barring the IRS from auditing Trump, his family, and his business entities for conduct predating the settlement, according to NPR.
"Friday: Capital One reveals Trump was debanked bc he was laundering money. Sunday: Acting Attorney General solidifies promise his tax crimes won't be punished," national security blogger Marcy Wheeler wrote on X.
Trump had long claimed his accounts were closed for political reasons following the Jan. 6 Capitol riot — a narrative he used to justify the Trump family's crypto pivot, according to Al Jazeera.
The new filing directly contradicted that claim.
"Capital One closed Plaintiffs' accounts for anti-money laundering ('AML') reasons," the filing states. "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."
The bank had kept those findings confidential for five years. The anti-money laundering rationale only became public because Trump sued, according to the filing.
"Capital One never publicized the termination decision nor its confidential internal process giving rise to the closure," the filing states.
Blanche — Trump's former personal attorney — signed the IRS settlement as acting AG, shielding Trump, his sons, and his business entities from tax audits and enforcement actions for conduct before May 2026, according to NPR.
On Sunday, NPR reported that Sen. John Cornyn (R-TX) had struck a deal with the Justice Department that ensured that Trump would have protection from audits that could lead to prosecutions. Cornyn's spokesperson confirmed the agreement would make clear "in a binding written document that the scope of the audit settlement is limited to only the plaintiffs, including the President, and the IRS."
Political commentator Amanda Carpenter connected the two disclosures. "Turns out Capital One flagged them for money laundering. And it's a coincidence that Blanche wrote the memo to give the Trump family immunity from IRS audits?"
"Are we supposed to be fine w IRS audit immunity for the Trump family?" Carpenter added. "This is an obscene protection racket."
The Senate Judiciary Committee is scheduled to vote on Blanche's confirmation Tuesday, NPR reported.
