Capital One says it closed Trump bank accounts 'for anti-money laundering reasons'

The disclosure came in a court filing from the financial institution.

Capital One says it closed hundreds of bank accounts associated with President Donald Trump and his businesses in 2021 "for anti-money laundering reasons," according to a recent court filing from the financial institution.

Capital One disclosed the money laundering review for the first time in a motion to throw out the president's lawsuit against the bank over the closure of his businesses' bank accounts, which the Trump family has alleged was politically motivated and unlawful.

While the bank did not accuse the Trump Organization of money laundering, Capital One said Trump's accounts were closed after a monthslong review by the bank's anti-money laundering team -- not for political reasons as alleged by the president and his family.

"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," lawyers for the bank said in a court filing on July 31. "Capital One never publicized the termination decision nor its confidential internal process giving rise to the closure, and it permitted Plaintiffs several months (and granted several extensions) to find new banking services, which they did."

In a statement to ABC News, a spokesperson for the Trump Organization alleged that Capital One was trying to manufacture a justification to close the accounts "to conceal what was plainly a politically motivated decision to debank the Trump accounts."

"Capital One's after-the-fact attempt to justify its debanking of Trump related accounts is completely baseless. Following the events of January 6, 2021, Capital One manufactured a post hoc rationale by selectively resurrecting a handful of isolated transactions that had occurred years earlier and had never once been identified as cause for concern," the spokesperson said, referring to the Jan.6 attack on the U.S. Capitol.

The lawsuit, filed against Capital One last year by Trump's trust, his companies, and his son Eric Trump, alleged that the financial institution canceled approximately 385 bank accounts associated with Trump for political reasons following the public backlash to the Jan. 6 attack.

"Plaintiffs have reason to believe that Capital One's unilateral decision came about as a result of political and social motivations and Capital One's unsubstantiated, 'woke' beliefs that it needed to distance itself from President Trump and his conservative political views. In essence, Capital One 'de-banked' Plaintiffs' Accounts because Capital One believ