Bloomberg news: Deutsche Bank, Signature Cutting Ties With Trump After Riots
Deutsche Bank AG and Signature Bank, two of Donald Trump?s favored lenders, are pulling away from the billionaire president in the wake of last week?s deadly riot at the U.S. Capitol.
The German lender has decided not to conduct any further business with Trump and his company, said two people with knowledge of the matter, asking not to be identified because the deliberations were confidential. Trump owes the Frankfurt-based lender more than $300 million.
Signature Bank, the New York lender that?s long catered to his family, is closing two personal accounts in which Trump held about $5.3 million, a spokesperson for the firm said on Monday. It?s also calling for the president to step aside before his term officially ends 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 separate statement on Monday.
The lenders are following social media outlets and other companies in suspending ties with the president after he encouraged attendees at a rally last week to march on the Capitol, where they stormed the building and interrupted the certification of the electoral college vote. At least five people died in the mayhem and its immediate aftermath.
?Yesterday was a dark day for America and our democracy,? Deutsche Bank Americas head Christiana Riley posted on LinkedIn a day after the riot. ?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.?
We have never before commented on any political matter and hope to never do so again,? Signature said in its statement. The bank will not do business in the future with any members of Congress who voted to disregard the electoral college, the spokesperson said.
https://www.bloomberg.com/news/arti...ed-banks-pull-back-amid-fallout-from-d-c-riot
Deutsche Bank AG and Signature Bank, two of Donald Trump?s favored lenders, are pulling away from the billionaire president in the wake of last week?s deadly riot at the U.S. Capitol.
The German lender has decided not to conduct any further business with Trump and his company, said two people with knowledge of the matter, asking not to be identified because the deliberations were confidential. Trump owes the Frankfurt-based lender more than $300 million.
Signature Bank, the New York lender that?s long catered to his family, is closing two personal accounts in which Trump held about $5.3 million, a spokesperson for the firm said on Monday. It?s also calling for the president to step aside before his term officially ends 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 separate statement on Monday.
The lenders are following social media outlets and other companies in suspending ties with the president after he encouraged attendees at a rally last week to march on the Capitol, where they stormed the building and interrupted the certification of the electoral college vote. At least five people died in the mayhem and its immediate aftermath.
?Yesterday was a dark day for America and our democracy,? Deutsche Bank Americas head Christiana Riley posted on LinkedIn a day after the riot. ?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.?
We have never before commented on any political matter and hope to never do so again,? Signature said in its statement. The bank will not do business in the future with any members of Congress who voted to disregard the electoral college, the spokesperson said.
https://www.bloomberg.com/news/arti...ed-banks-pull-back-amid-fallout-from-d-c-riot