🏛 Indicator From Planet Money
Published by OOPSONLINE.IN · Source: NPR · 1 min read · · Updated
What actually happened
The Trump Organization has sued Capital One for closing its bank accounts. The organization says it did so out of political reasons. But banks can close accounts for a zillion reasons. They don’t have to say why. Capital One cited money laundering as a concern. On today’s show, how banks decide to close accounts, how much politics plays a role and what the bank might have seen in its crime-stopping crystal ball.Fact checking by Sierra Juarez.Your Next Listen — What is a 'freedom economy'?Connect with The Indicator — Sign up for The Indicator’s weekly newsletter!— Buy the Planet Money book— Fin
Key points
- The Trump Organization has sued Capital One for closing its bank accounts.
- The organization says it did so out of political reasons.
- But banks can close accounts for a zillion reasons.
- They don’t have to say why.
Summary based on data provided by NPR. Full article available at the original publisher.
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