Today in One Sentence. Acting Attorney General Todd Blanche formally rescinded the Justice Department’s $1.8 billion “Anti-Weaponization Fund”; Capital One closed more than 300 bank accounts linked to Trump and his businesses in 2021 after “months of analysis and a careful review” by its anti-money laundering team; Trump accused ExxonMobil and Chevron of “making too much money” off the oil shortage caused by the war in Iran that he started; Trump said he wants to give Iran “every last chance before decapitation” even though there are no “new” negotiations planned; Trump baselessly blamed Minnesota Gov. Tim Walz for cyberattacks on more than 30 of the state’s water systems; and Trump is reportedly considering firing U.S. Attorney Jeanine Pirro for dismissing the Reflecting Pool vandalism case after concluding that a “hasty and botched” renovation, not vandalism, caused the damage.

1/ Acting Attorney General Todd Blanche formally rescinded the Justice Department’s $1.8 billion “Anti-Weaponization Fund.” In a one-page order, Blanche wrote that the fund “is rescinded and shall have no force or effect.” A separate Justice Department document narrowed Trump’s tax-audit protections to past returns involving Trump, two of his sons, and the Trump Organization, while leaving future tax filings subject to audit. Republican Sens. Thom Tillis and John Cornyn, who had threatened to block Blanche’s nomination over Trump’s settlement with his own IRS, said they were “pleased” the department had issued a written order “legally ending” the fund and that they “look forward to voting to advance his nomination.” The underlying settlement, however, requires written agreement from all parties, and Blanche’s order wasn’t signed by Trump or his lawyers. (CBS News / Politico / Washington Post / Associated Press / Reuters / Wall Street Journal / New York Times / CNN / NBC News / Axios / NPR)

  • FRIDAY: Trump said the $1.8 billion “anti-weaponization fund” is “dead,” but added that “I wish it weren’t.” Trump said the administration has “agreed not to have a fund” that compensates his political allies, who were “horribly treated, horribly abused” and “should be given compensation for what has been done to them.” (Associated Press / ABC News / Axios / Politico)

  • SATURDAY: Trump threatened to revive the $1.8 billion “anti-weaponization fund” if Senate Republicans blocked Todd Blanche’s confirmation as attorney general. He said he’d keep Blanche as acting attorney general and “push hard” to pass the fund, reversing his declaration a day earlier that it was “dead.” (Bloomberg / Politico / Associated Press / New York Times)

  • EARLIER: Trump appealed a federal judge’s ruling that his $10 billion lawsuit against the IRS was brought to “manipulate the judicial process.” The appeal seeks to overturn Judge Kathleen Williams’s finding that the settlement to create a nearly $1.8 billion “anti-weaponization fund” and grant himself tax immunity had “no viable basis in law or fact.” (New York Times / Politico / NBC News / USA Today / CNBC)

2/ Capital One closed more than 300 bank accounts linked to Trump and his businesses in 2021 after “months of analysis and a careful review” by its anti-money laundering team. The bank said “transaction patterns” triggered the review, but didn’t accuse the Trump Organization of money laundering. Trump’s trust, several of his companies, and Eric Trump sued Capital One, alleging the bank unlawfully shut down roughly 385 accounts for political reasons after the Jan. 6 attack and caused “considerable financial harm.” Capital One is seeking to have that case thrown out, saying it “never publicized the termination decision,” gave the account holders months and multiple extensions to find new banks, and that the closures became public only because Trump sued. (ABC News / CNN / Associated Press)

3/ Trump accused ExxonMobil and Chevron of “making too much money” off the oil shortage caused by the war in Iran that he started, and demanded that they “give some of that back to the public” and “they better cut the retail price, the consumer price.” Exxon earned $14.5 billion and Chevron $12.1 billion in the second quarter as average gasoline prices climbed to about $4.10 a gallon, up from $2.98 before the U.S. and Israel attacked Iran in February. Trump also attacked Chevron CEO Mike Wirth for failing to credit the administration, claiming that “without the genius, foresight, strength, and stability, of the TRUMP Administration, the Oil Industry, and our Country itself, would be DEAD!” (Politico / CNBC / Bloomberg / Wall Street Journal)

4/ Trump said he wants to give Iran “every last chance before decapitation” even though there are no “new” negotiations planned. Tehran also denied that any new talks with the U.S. were taking place and that its only negotiations were with Oman over a temporary shipping route through the Strait of Hormuz. Nevertheless, Trump insisted that negotiations were underway while calling Iran’s leadership “unbelievably duplicitous,” and claiming “They ask for a meeting, some would say ‘beg,’ talks begin.” Trump added that a deal would first “completely open” Hormuz and then the denuclearization of Iran.” (Associated Press / ABC News / CNN / Bloomberg / Wall Street Journal / NBC News / CBS News)

  • The U.S. military asked military analysts for “new creative and unconventional ways to pressure and punish Iran.” The request comes as Trump has considered renewed attacks on Pickaxe Mountain and other suspected nuclear sites. Officials, however, said that the deeply buried facilities are unlikely to be destroyed without ground troops. (CNN)

5/ Trump baselessly blamed Minnesota Gov. Tim Walz for cyberattacks on more than 30 of the state’s water systems. “I think the governor is behind it,” Trump claimed without evidence despite U.S. intelligence agencies saying the cyberattack was probably from Iranian hackers. Walz said Trump “knows exactly who is responsible for this attack and knows that other states were hit too. This is what modern warfare looks like, and it further illustrates there’s no plan to win a war with Iran.” (New York Times / Reuters / Politico / ABC News / Bloomberg / Washington Post / CNN / Associated Press)

The 2026 midterms are in 92 days; the 2028 presidential election is in 827 days.

✏️ Notables.

  1. The Senate reached a bipartisan deal to fund the government through Dec. 11 and avoid a shutdown before the midterm elections. The bill would maintain current spending, protect funding for nutrition, housing, disaster relief, and veterans’ health care, block the administration from shifting money to Border Patrol, and temporarily stop a rule giving political appointees broad authority over federal grants. (NBC News / Washington Post / CBS News / ABC News)

  2. Trump is reportedly considering firing U.S. Attorney Jeanine Pirro for dismissing the Reflecting Pool vandalism case. Pirro’s office concluded that a “hasty and botched” renovation, not vandalism, caused the damage, and said newly disclosed Interior Department records “significantly undermine” the evidence used to indict former Olympian David Hearn. A visual inspection reportedly found peeling “even in the middle of the pool, where a vandal wouldn’t likely attempt” to reach, making it “difficult to attribute” the damage to vandals. Trump nevertheless insisted “it was vandalism,” saying Pirro “choked,” “made a mistake,” and “folded like an umbrella,” even as he acknowledged that “the contractor was rushing” and that he wasn’t “100% thrilled” with the work. (Wall Street Journal / CNN / CNBC / Politico)

  3. Trump announced a phased deal for Hamas to disarm as Israel withdraws from Gaza. Israel, however, hasn’t approved the deal and Hamas has disputed that it agreed to surrender its weapons. The roadmap calls for verified weapons transfers, tunnel destruction, and heavy-arms decommissioning over as many as 350 days. (Associated Press / Wall Street Journal / ABC News / NPR)

  4. The State Department displayed a map of Africa that mislabeled every country during a presentation at the AIDS 2026 conference. The State Department called it “an unfortunate error,” blamed a team member who “hastily altered” the slide deck, and said it took “full responsibility for the confusion and misrepresentation” caused. The image contained a watermark associated with OpenAI. (New York Times / Washington Post / CNN / Bloomberg / Semafor / NBC News)