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Deutsche Bank, Signature Bank cut ties with President Trump

Deutsche Bank Bribery
Posted at 11:00 AM, Jan 12, 2021
and last updated 2021-01-12 13:03:32-05

Germany's biggest bank, Deutsche Bank, and Signature Bank in New York are severing ties with President Donald Trump in the wake of the deadly riots at the U.S. Capitol Building.

According to Politico, Deutsche Bank has decided not to do business with Trump and his company, to who he owes more than $300 million and it'll be due in the next coming years.

Signature Bank said they are closing two personal accounts in which Trump held about $5.3 million while publicly calling for him to resign, the Chicago Tribune reported.

According to The New York Times, Signature helped Trump finance his golf course in Florida, and his daughter Ivanka Trump previously sat on the bank's board.

CNN reported that the Manhattan District Attorney's Office and the New York Attorney General had subpoenaed Deutsche Bank about its lending relationship with the Trump Organization while both agencies investigate the company.

On Monday, Trump was served another blow when the PGA of America announced that they would not play its PGA Championship event next year at Trump National Golf Club in the wake of the violent riots at the U.S. Capitol.