Finance

Deutsche Bank rules out future business with Trump, company

German-based Deutsche Bank will halt all business with President Trump, his family and his personal businesses, Bloomberg reported.

Two officials at the bank who remained anonymous told the news outlet that the bank will not conduct further business with the president other than overseeing the repayment of existing loans totaling more than $300 million.

The news outlet also reported that New York-based Signature Bank, which on Monday publicly called for Trump’s resignation, also said it would refuse Trump’s business and that of any member of Congress who supported objections to the Electoral College result certification last week, a process marred by a violent riot made up of pro-Trump supporters who overtook the Capitol.

“We have never before commented on any political matter and hope to never do so again,” added a Signature Bank spokesperson to Bloomberg.

It was previously reported in November that Deutsche Bank was seeking to offload Trump’s three loans totaling roughly $300 million to another lender due to negative media attention surrounding the president and his financial dealings, attention that is only likely to grow as the president leaves office and faces close scrutiny of his finances from New York’s attorney general.

Sen. Elizabeth Warren (D-Mass.), who serves on the Senate Banking Committee, said last year that she plans to pursue probes of Deutsche Bank over its relationship with Trump under President-elect Joe Biden’s administration.

“You bet I’m going to continue to fight for accountability and strong enforcement of our banking laws, especially for giant institutions like Deutsche Bank,” she said in November.

Signature Bank’s statement and new policy banning business with members of Congress who supported challenges to the Electoral Vote certification is the latest fallout facing Republican members of Congress who supported the president’s efforts to overturn the 2020 election.

Tags Banking Capitol breach Deutsche Bank Donald Trump Elizabeth Warren Joe Biden riot Signature Bank Trump family

The Hill has removed its comment section, as there are many other forums for readers to participate in the conversation. We invite you to join the discussion on Facebook and Twitter.

See all Hill.TV See all Video

Most Popular

Load more

Video

See all Video