Warren Presses Eric Trump on Capital One Lawsuit

Senator Elizabeth Warren, the leading Democrat on the Senate Banking Committee, is seeking confirmation from Eric Trump regarding the potential reopening of a lawsuit against Capital One. This lawsuit alleges the bank unjustly closed accounts related to the Trump family.

A recent poll has raised questions about whether the Trump family will refile the lawsuit against Capital One before the approaching deadline set for this month. The Trump family has accused the bank of closing their accounts for politically motivated reasons.

This inquiry is part of Warren’s broader investigation into Brian Johnson, the Capital One executive nominated by President Trump to lead the Consumer Financial Protection Bureau (CFPB), a role that has faced significant scrutiny. Johnson’s confirmation is still pending in the Senate.

“In recent times, your father’s views have become quite significant to our Republican colleagues,” Warren noted in a letter to Eric Trump, who is managing the Trump Organization together with his brother, Don Jr.

Warren expressed that understanding the Trump family’s stance on Capital One could assist the committee as it considers Johnson’s nomination. She also inquired if the family intends to refile the claims against Capital One by the July 17, 2026 deadline set by Judge Altman.

Back in March 2025, the Trump family initiated legal proceedings against Capital One, asserting that the bank had blocked countless accounts connected to them, which held substantial amounts of money.

The lawsuit claimed that Capital One shut down the accounts due to a belief that they needed to distance themselves from President Trump and his conservative views. Eric Trump had previously stated, “Changing over 300 bank accounts has been incredibly tough, and there’s no real justification for it. These accounts were tied to various businesses, yet the only thing linking them was Trump’s name.”

Capital One has denied claims of political discrimination in closing Trump-related accounts.

Earlier this year, U.S. District Judge Roy Altman granted Capital One’s request to dismiss the “flawed” case, citing a lack of detail. However, the Trump family was given a chance to refile by July 2, 2026, which was later pushed to July 17.

Warren is also probing whether Johnson was involved in the CFPB’s decision to drop a Biden-era lawsuit against Capital One last year. The CFPB, which Warren originally proposed, has seen its workforce shrink significantly since President Trump took office, with a reported 1,200 employees as of January—about 30% fewer than before.

White House Budget Director Russ Vought commented on the CFPB, suggesting it has been weaponized against certain industries and individuals. Recently, the White House has reconsidered plans to reduce the staff further, contemplating potential layoffs in April.