Senator Elizabeth Warren, the leading Democrat on the Senate Banking Committee, has recently reached out to Eric Trump, seeking clarification on whether the Trump family intends to proceed with legal action against Capital One. This comes after allegations surfaced claiming the bank terminated accounts connected to the Trump family, purportedly due to political motivations. Sources familiar with the matter disclosed this development to The Post.
The liberal lawmaker is inquiring if the Trump family plans to re-submit their lawsuit against Capital One before an impending deadline this month. The family had previously accused the bank of closing their accounts due to perceived “woke” political biases.
Warren’s inquiry is part of a broader investigation into Brian Johnson, a Capital One executive nominated by former President Trump to lead the Consumer Financial Protection Bureau. This agency has been significantly weakened under current administration policies. Johnson’s nomination is now pending approval in the Senate.
In a letter dated Thursday, Warren addressed Eric Trump, co-director of The Trump Organization along with his brother, Don Jr. She noted, “In recent months, your father’s opinion has held considerable sway among my Republican colleagues.”
Warren emphasized the significance of understanding the Trump family’s stance on Capital One, especially given their allegations and the Consumer Financial Protection Bureau’s potential role in addressing such de-banking concerns. These insights are deemed valuable as the committee reviews 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 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.
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.