Deutsche Bank, Signature Bank to cease business with Trump

Two banks associated with President Donald Trump have decided to pull away from business with him in the wake of the Capitol Hill riot.


Two banks associated with President Donald Trump have decided to pull away from business with him in the wake of the Capitol Hill riot on Jan. 6, Bloomberg News reports.

Deutsche Bank AG, to which Trump owes some $300 million, says they will no longer be doing business with Trump's companies or with Trump himself.

Trump's personal banker at Deutsche Bank, Rosemary Vrablic, resigned last month after lending hundreds of millions to Trump over the years.

Ties with Trump are also being severed by Signature Bank, a New York-based lender which the Trump family has long done business with. The bank is closing two of Trump's accounts totaling $5.3 million in assets.

Signature Bank also pushed for Trump to resign from the presidency. "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 released on Monday.

"We have never before commented on any political matter and hope to never do so again," their statement continued. A spokesman for the bank said that they will not be doing any business with politicians who promote claims of election or voter fraud shifting the results of the election.

The bank has ties to other Trump family members including Jared Kushner and Ivanka Trump, the latter of whom briefly served on the bank's board beginning in 2011.

The decisions by the two banks follow the actions of big tech companies, which decided to boot Trump from their platforms in the past week.


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