Four banks have reportedly severed ties with Donald Trump since the Capitol riots



At least four financial institutions have severed ties with former President Donald Trump since the Capitol riots, according to reports.

On Friday, Florida-based BankUnited announced it was ending its relationship with Trump, as reported by the Miami Herald. The Miami-area bank noted that Trump didn't receive any loans from them.

"We never had a lending relationship with Donald Trump and we no longer have any depository relationship with him," a bank representative said in an emailed statement.

Financial records reveal that Trump held two money-market accounts worth more than $5.1 million at BankUnited.

Two weeks ago, Coral Gables-located Professional Holding Corp. announced that it would no longer furnish banking services to the former president or the Trump Organization.

"Professional Bank has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship effective immediately," Professional Holding Corp. spokesperson Eric Kalis told Fortune.

Professional Holding Corp. reportedly loaned $11.2 million to Trump's family in 2018 to purchase a property next to Mar-a-Lago club in Palm Beach. The banking institution also held a money-market account valued between $5 million and $25 million in Trump's name.

Less than a week after the chaos at the Capitol, two of Trump's biggest lenders ditched him following the controversy. Frankfort-based Deutsche Bank, which has reportedly $340 million in loans outstanding to the Trump Organization, said they would no longer do business with the former president or his companies.

Christiana Riley, who is head of Deutsche Bank's U.S. operations, issued a statement following the riots at the U.S. Capitol building.

"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 wrote.

New York-based Signature Bank also ended its relationship with Trump. The banking institution closed two of Trump's personal accounts worth approximately $5.3 million, according to Bloomberg, citing two people with knowledge on the matter.

Signature Bank also called for then-President Trump to resign before his term officially ended on Jan. 20.

"We believe the appropriate action would be the resignation of the president of the United States, which is in the best interests of our nation and the American people," the bank said in a statement on Jan. 11. "We have never before commented on any political matter and hope to never do so again."

The report also stated that Signature Bank would not do any business in the future with members of Congress who voted to not certify the Electoral College results.

Senate Majority Leader Schumer (D-N.Y.) said House Speaker Nancy Pelosi (D-Calif.) will deliver an article of impeachment against Trump to the Senate on Monday.

Amid Capitol riot fallout, Deutsche Bank reportedly cuts off President Donald Trump as Signature Bank closes his personal accounts



Frankfurt-based Deutsche Bank — which has reportedly financed more than $340 million in loans for President Donald Trump's Trump Organization — has reportedly cut ties with the president and will no longer do business with him.

New York-based Signature Bank, another Trump-favored lender, has also reportedly closed personal accounts connected with the president and has called for his resignation.

The moves come in the wake of the deadly Jan. 6 Capitol siege, carried out by extremist supporters.

House Democrats on Monday introduced an article of impeachment in connection to the attack on the Capitol.

What are the details?

On Monday evening, the New York Times reported that the bank will no longer do business with the president, who has a variety of outstanding loans that are due over the next few years.

"Deutsche Bank, which has been Mr. Trump's primary lender for two decades, has decided not to do business with Mr. Trump or his company in the future, according to a person familiar with the bank's thinking," the outlet reported in a widely cited article. "Mr. Trump currently owes Deutsche Bank more than $300 million, which is due in the next few years."

The Times added, "The bank has concluded that, short of forgiving the debt, it has no way to extricate itself from the Trump relationship before the loans come due."

Reuters on Tuesday pointed to a recent LinkedIn post from Christiana Riley, who is head of Deutsche Bank's U.S. operations, regarding the Capitol siege.

"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," she wrote according to the news organization.

In November, Reuters reported that the bank was seeking ways to distance itself from the president.

What else?

Bloomberg on Tuesday also reported that the lender decided "not to conduct any further business with Trump and his company," citing two people with knowledge on the matter.

The outlet also reported that Signature Bank is closing two of Trump's personal accounts — which purportedly held approximately $5.3 million — according to a bank spokesperson.

In a Monday statement, a spokesperson for Signature Bank said, "We believe the appropriate action would be the resignation of the President of the United States, which is in the best interest of our nation and the American people."

The statement added, "We have never before commented on any political matter and hope to never do so again."

The New York Times reported a spokeswoman for the bank, also said that Signature Bank announced that it "will not do business in the future with any members of Congress who voted to disregard the Electoral College."

The Trump Organization has yet to issue public comment on the reports at the time of this writing.

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