U.S. Senate Committee on Banking, Housing, and Urban Affairs
07/02/2026 | Press release | Distributed by Public on 07/02/2026 08:27
Following Trump's Nomination of Capital One Exec to Lead CFPB, Warren Requests Update From Eric Trump On Family's De-banking Lawsuit
July 02, 2026
Previous ArticleFollowing Trump's Nomination of Capital One Exec to Lead CFPB, Warren Requests Update From Eric Trump On Family's De-banking Lawsuit
"As you may be aware, the CFPB is one of the key federal agencies that has the authority to police de-banking and ensure Americans receive fair access to financial services."
"Given your father's seemingly strongly-held beliefs on de-banking, I assume that he would nominate a senior executive at Capital One to this position only if the Trump Organization no longer believes that Capital One was a "woke" organization that de-banked the Trump family."
Washington, D.C. - Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to Eric Trump, Executive Vice President at the Trump Organization, requesting information regarding the Trump family's current stance towards Capital One, given the family's previous allegations of unlawful de-banking. Senator Warren also requested an update on the Trump family's plans to continue its lawsuit against the bank.
On March 7, 2025, the Trump family and affiliated legal entities filed a lawsuit against Capital One for allegedly de-banking the Trump family following the January 6, 2026, attack on the U.S. Capitol. The lawsuit claims that Capital One closed hundreds of accounts tied to the Trump family due to "woke" beliefs that ran counter to President Trump's political views. On March 20, 2026, U.S. District Judge Roy Altman dismissed the "deficient" lawsuit, but allowed the Trump family to proceed with discovery and provided a July 2, 2026, deadline to re-file the complaint. Judge Altman then extended the deadline to re-file to July 17, 2026.
Last month, President Trump nominated Brian Johnson, Vice President at Capital One, to serve as Director of the CFPB.
"(T)he CFPB is one of the key federal agencies that has the authority to police de-banking and ensure Americans receive fair access to financial services," wrote the Ranking Member. "Indeed, I have called for your father's second Administration to move forward with five separate rules that address the threat of de-banking, some of which Mr. Johnson opposed … unfortunately, Acting CFPB Director Russ Vought halted CFPB rulemaking, enforcement investigations, and litigation against lawbreaking financial institutions. The freeze makes it harder to prevent de-banking and has increased costs for American families."
Ranking Member Warren concluded: "Given the Trump family's allegations against Capital One and the role the CFPB would play in addressing concerns about de-banking, it would be helpful for the Committee to understand your views on Capital One as it considers Mr. Johnson's nomination. 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."
The Ranking Member requested this information by July 13, 2026 and committed to entering Eric Trump's response to the record of Mr. Johnson's nomination proceedings.
###
U.S. Senate Committee on Banking, Housing, and Urban Affairs published this content on July 02, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 02, 2026 at 14:27 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]