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Democratic US senator asks Capital One for details on Trump account anti-money laundering review

Source: reuters.com

Regulation & LegislationBanking & LiquidityLegal & Litigation
Democratic US senator asks Capital One for details on Trump account anti-money laundering review

A Democratic U.S. senator has demanded details from Capital One about an internal anti-money-laundering review that the bank said led it to close accounts tied to President Donald Trump and his businesses. The inquiry increases near-term legal/regulatory overhang for the bank but is unlikely to affect results immediately. Overall impact is limited unless regulators escalate the matter.

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