DAILYCALLER (Nicole Silverio) - Wall Street Banks Duking It Out With Crypto Bros Over Key Bill
‘It has almost no legal protections’
‘It has almost no legal protections’
The Trump Organization's lawsuit claims the bank's silence proves the closures of 385 accounts were political retaliation after the Jan. 6, 2021, Capitol riots.
The bank is asking a judge to permanently dismiss a lawsuit from Trump-affiliated businesses, arguing a monthslong internal review — not the Jan. 6 riot — explains why hundreds of accounts were shut down in 2021.
The disclosure marks the first time a bank has formally tied money laundering concerns to President Donald Trump’s family business.
The largest banks in the United States collectively raked in tens of billions of profits in the second quarter, despite the war in Iran and persistent inflation.
They played second fiddle to private equity and hedge funds for years, but 2026 is shaping up to be “the year of the bank,” one consultant said.
The order directs the Treasury Department to issue formal advisories to financial institutions outlining “red flags” to watch for.
'Delay is not a neutral position'
The lawsuit alleges that the company failed to inform its existing 360 Savings customers about the new, higher-rate accounts or that their older accounts weren't the best option for their savings.
U.S. Treasury Secretary Scott Bessent has confirmed that a proposed executive order requiring banks to collect citizenship information from their customers is “in process” and […] Source