Deutsche Bank Announces They Will No Longer Do Business With Trump After Years Long Relationship
Deutsche Bank, one of President Trump’s largest lenders, announced that they will no longer do business with the president’s companies following the siege of the U.S. Capitol by a group of his supporters.
Deutsche Bank is Trump’s biggest lender, with about $340 million in loans outstanding to the Trump Organization, the president’s umbrella group that is currently overseen by his two sons, according to Trump’s disclosures with the U.S. Office of Government Ethics dated July 31 last year, plus banking sources.
The move, reported by the NYT and citing a person familiar with the bank’s thinking, comes as Signature Bank – where Trump’s ethics disclosures show he has checking and money-market accounts – called for him to step down.
“The resignation of the president … is in the best interests of our nation and the American people,” Signature Bank said on its website.
Or in other words, the bank that admitted to their role in aiding Adolf Hitler is now claiming the moral high ground.
Christina Riley, the head of the bank’s U.S. operations, condemned the protests that culminated in the Capitol takeover.
“We are proud of our Constitution and stand by those who seek to uphold it to ensure that the will of the people is upheld and a peaceful transition of power takes place,” Riley said.
Trump’s loans from the bank are reported to be for a golf course in Miami and hotels in Washington and Chicago.
The news comes as other prominent companies have tried to distance themselves from the president after his Jan. 6 rally. Twitter and Facebook both banned Trump from using their social media platforms, citing concerns that his rhetoric would incite violence and interrupt the peaceful transition of power.
The country’s top professional golf circuit, the PGA Tour, also announced that they were no longer going to use two courses owned by Trump for future events.