Deutsche Bank turned Trump down for loan in 2016: report

Deutsche Bank declined to give President TrumpDonald TrumpTrump PACs brought in over M for the first half of 2021 Chicago owes Trump M tax refund, state's attorney mounts legal challenge Biden hits resistance from unions on vaccine requirement 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) MuellerSenate Democrats urge Garland not to fight court order to release Trump obstruction memo Why a special counsel is guaranteed if Biden chooses Yates, Cuomo or Jones as AG Barr taps attorney investigating Russia probe origins as special counsel 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: Justice Department says Trump's tax returns should be released | Democrats fall short of votes for extending eviction ban House adjourns for recess without passing bill to extend federal eviction ban Pelosi calls on CDC to extend eviction moratorium unilaterally MORE and Adam SchiffAdam Bennett SchiffOfficers offer harrowing accounts at first Jan. 6 committee hearing Live coverage: House panel holds first hearing on Jan. 6 probe Five things to watch as Jan. 6 panel begins its work 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.