Deutsche Bank turned Trump down for loan in 2016: report

Deutsche Bank declined to give President TrumpDonald John TrumpFive takeaways from the Democratic debate As Buttigieg rises, Biden is still the target Leading Democrats largely pull punches at debate 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 (Bob) Swan MuellerHouse impeachment hearings: The witch hunt continues Speier says impeachment inquiry shows 'very strong case of bribery' by Trump Gowdy: I '100 percent' still believe public congressional hearings are 'a circus' 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 WatersOn The Money: House passes monthlong stopgap | Broader spending talks stall | Judge orders Democrats to give notice if they request Trump's NY tax returns | Progressives ramp up attacks on private equity Federal regulators clear BB&T-SunTrust merger, creating sixth-largest US bank Progressive Democrats ramp up attacks on private equity MORE and Adam SchiffAdam Bennett SchiffNunes's facial expression right before lawmakers took break from Sondland testimony goes viral Sondland brings impeachment inquiry to White House doorstep Maloney wins House Oversight gavel 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.