Deutsche Bank turned Trump down for loan in 2016: report

Deutsche Bank declined to give President TrumpDonald John TrumpUS-Saudi Arabia policy needs a dose of 'realpolitik' Trump talks to Swedish leader about rapper A$AP Rocky, offers to vouch for his bail Matt Gaetz ahead of Mueller hearing: 'We are going to reelect the president' 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 MuellerTop Republican considered Mueller subpoena to box in Democrats Kamala Harris says her Justice Dept would have 'no choice' but to prosecute Trump for obstruction Dem committees win new powers to investigate Trump 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 WatersHillicon Valley: Trump seeks review of Pentagon cloud-computing contract | FTC weighs updating kids' internet privacy rules | Schumer calls for FaceApp probe | Report says states need more money to secure elections Here are the 95 Democrats who voted to support impeachment Maxine Waters says her committee will call in Zuckerberg to testify about Libra MORE and Adam SchiffAdam Bennett SchiffCourt filings show Trump, Cohen contacts amid hush money payments House passes annual intelligence bill Judge finds Stone violated gag order, blocks him from using social media 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.