In the wake of deadly riots on Capitol Hill last week, Deutsche Bank and Signature Bank have said they are cutting future ties with President Donald Trump.
He could personally leave the president on the hook for millions of dollars when several personal loans guaranteed that he would come within the next two years.
Deutsche Bank, where the president has two personally guaranteed mortgages for a total of $ 340 million, is avoiding further business with Trump, according to a person familiar with the matter. Loans are due by 2023 and 2024.
A company spokesman declined to comment, but the company’s US operations chief Christiana Riley wrote on LinkedIn last week that the riots were “a dark day for America and our democracy.”
“Violence has no place in our society and the scenes we witnessed are a shame for the whole country.” “We are proud of our Constitution and stand by those who want to uphold it to ensure that the will of the people is upheld and there is a peaceful transformation of power.”
The German bank has accused it of negative publicity following several investigations involving Trump’s finances, and was allegedly looking for a way to end his relationship with the president.
In December, two Trump’s personal bankers at Deutsche Bank were responsible for hundreds of years by Rosemary Vrabic and Dominic Scalzi, who resigned. The reasons for the resignation were not clear.
Signature Bank said it was closing two personal accounts in which the president had about $ 5 million.
“Signature Bank began the process of closing President Trump’s personal accounts,” company spokesman Susan Turkel said in a statement. “Signature Bank vows that it will not do business in the future with any member of Congress who neglected the Electoral College.”
The bank also posted a statement on its website asking Trump to resign.
“We have never commented on any political matter before, nor did we expect to do so again,” the statement said. “To see a rioter sitting on the chair of the President of the US Senate and our elected representatives being asked to seek cover under their seats is frightening and an insult to the Republic.”
Previously, the bank was a go-to for Trump and his network of extended family and associates. It helped finance a golf course in Florida, lending Trump’s former personal attorney Michael Cohen to Trump’s son-in-law Jared and Jared’s father, Charles, to invest in a Manhattan apartment building. Trump’s oldest daughter, Ivanka, sat on her board at a time when she was lending to her father. The US banker reported that in 2013, he resigned citing a “highly demanding schedule”.
The New York Times was first reported by Banks.
The Trump Organization did not immediately respond to NBC News’ request for comment.
As is typical with developers, Trump has several large, interest-only loans on his properties that he refinances from time to time. But the list of lenders willing to do business and take loans with Trump continues to shrink.
Ladder Capital, a small real estate investment trust that specializes in risky loans that have survived several other banks, issued trillions of dollars of debt to Trump for his four New York properties.
Financial records filed with New York’s Department of Finance show four loans by Trump Ladder to Trump estimated at $ 282 million: $ 160 million for 40 Wall Street, $ 100 million for Trump Tower, $ 15 million for Trump Plaza and $ 7 million for Trump International Hotel. & Tower.
The loans were exposed and first reported by Wendy Seagelman, an independent reporter who has written for The Guardian and Buzzfeed.
The company did not immediately respond to NBC News’ request for comment.