The Globe and Mail reports in its Tuesday edition that Capital One closed President Donald Trump's bank accounts in 2021 due to flagged financial activity resembling money laundering, it said in a court filing. An Associated Press dispatch to The Globe reports that this filing is part of a lawsuit Mr. Trump filed against the bank, claiming his accounts were closed for political reasons following the Jan. 6 attacks on the capitol. Capital One wants the lawsuit dismissed. "The closures were the result of months of analysis and a careful review by Capital One's [anti-money laundering] team" the bank said in the court filing. Mr. Trump has sued Capital One and JPMorgan for allegedly debanking him after leaving office in 2021, which happens when banks close accounts due to perceived financial or reputational risks. Both banks have denied they severed their relationships with the President, his sons and other related businesses for political reasons. The lawsuit against JPMorgan is seeking damages of $5-billion (U.S.). JPMorgan has said it does not close accounts for political reasons, but closes accounts that create "legal or regulatory risk." Mr. Trump had more than 300 bank accounts with Capital One before they were closed.