Deutsche Bank turned Trump down for loan in 2016: report

Deutsche Bank declined to give President TrumpDonald John TrumpJustice Department preparing for Mueller report as soon as next week: reports Smollett lawyers declare 'Empire' star innocent Pelosi asks members to support resolution against emergency declaration MORE a loan in 2016 after the then-candidate requested funds for his Trump Turnberry golf property in Scotland, The New York Times reported Saturday.

Senior bank officials, including its future CEO, debated giving Trump a loan because they believed Trump's polarizing candidacy created too many risks, three people with knowledge of the request told the Times.

The officials also raised concerns about a situation in which Trump could win the presidency and default on the loan, in which case the bank would have to seize assets from the president or not collect the debt.


Trump Organization spokeswoman Amanda Miller denied that the company had sought a loan, telling the Times that it was able to finance work on the Turnberry resort independently. She did not address whether the organization requested a loan from Deutsche Bank.

“This story is absolutely false,” Miller told the Times. “We bought Trump Turnberry without any financing and put tens of millions of dollars of our own money into the renovation, which began in 2014. At no time was any money needed to finance the purchase or the refurbishment of Trump Turnberry.”

Deutsche Bank and the Trump Organization did not immediately respond to The Hill’s request for comment.

Deutsche Bank had previously given loans to Trump, lending him $125 million in 1998 for renovations on a Wall Street skyscraper and lending or participating in loans to Trump and his companies for more than $2.5 billion over 17 years after that, according to the Times.

Special counsel Robert MuellerRobert Swan MuellerSasse: US should applaud choice of Mueller to lead Russia probe MORE has reportedly subpoenaed records of Trump’s transactions with Deutsche Bank, though the White House has denied such reports.

California Democratic Reps. Maxine WatersMaxine Moore WatersPrivate insurance plays a critical part in home mortgage ecosystem On The Money: Lawmakers closing in on border deal | Dems build case for Trump tax returns | Trump, Xi won't meet before trade deadline | Waters in talks with Mnuchin for testimony Waters in talks with Mnuchin for testimony on lifting of sanctions on Russian firms MORE and Adam SchiffAdam Bennett SchiffPinterest blocks all vaccine-related searches in effort to combat anti-vax content Trump’s overreach is making a weaker presidency White House, GOP defend Trump emergency declaration MORE also say they plan to subpoena Deutsche Bank.

Sens. Elizabeth Warren (D-Mass.) and Chris Van Hollen (D-Md.) have urged Senate Banking Committee Chairman Mike Crapo (R-Idaho) to open a bipartisan investigation into Deutsche Bank.