Sunday, June 20, 2021
Home World Capitol Hill riot fallout: Deutsche Bank and Signature Bank pulls back from doing business...

Capitol Hill riot fallout: Deutsche Bank and Signature Bank pulls back from doing business with Donald Trump

The fallout from last week's storming the Capitol Hill continues.

Following the storming of Capitol Hill, two of Donald Trump’s favoured banks have decided that they will no longer do business with the billionaire.

Deutsche Bank to desist from doing business with Trump

As reported by Bloomberg, Deutsche Bank AG would desist from being involved in further business with Trump and his company, said a person privy to the details of the matter on condition of anonymity. Trump currently owes more than $300 million to the Frankfurt-based bank.

The bank further noted that there was no other way to severe the relationship with Donald Trump before the loans become due in the next few years, other than forgiving the huge sum, The NYTimes reported.

Deutsche Bank has been associated with Trump since the late 1990s and had lent more than $2 billion in the two years to November 2020. According to the reports, the bank was growing weary of the serious collateral damage it was enduring from the bad press resulting from its relationship with the embattled US president.

Last month, Deutsche Bank had announced that Trump’s long time banker had resigned. Rosemary Vrablic was the point of contact between the US president and the German lender that lent hundreds of millions of dollars of loans to Trump’s company over the last several years. Because of the relationship, the lender was subjected to pressure and coercion for information during Trump’s presidency.

Signature Bank snaps ties with the outgoing US President Donald Trump

Besides Deutsche Bank, New York-headquartered Signature Bank, that has long catered to Trump’s family, announced that it is snapping ties with the US President while insisting that he must resign from his constitutional position. Signature is all set to close down two personal accounts in which Trump has held about $5.3 million, a spokesperson for the bank said.

“We believe the most appropriate action would be the resignation of the US President, which is in the best interests of our nation and the American people,” the bank said in a statement on Monday.

The suspension of ties with the US President comes on the heels of social media giants and other companies severing their relationship with Donald Trump after he spurred attendees at a rally to march on the Capitol, where they stormed the building and disrupted the certification of the electoral college vote. At least 5 people died in the ensuing chaos and its aftermath.

Signature Bank had close association not just with Trump but others close to him such Ivanka Trump, Jared Kushner and Michael Cohen. A decade ago, the bank appointed Ivanka on its board, but she resigned two years later.

“We have never before commented on any political matter and hope to never do so again,” the statement released by Signature Bank said. The bank further added it won’t do any business with the members of Congress who voted to disregard the electoral college.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Pinarayi Vijayan is main accused in 1969 RSS worker killing: Kerala Congress chief K Sudhakaran makes stunning allegation

A day after Kerala Chief Minister Pinarayi Vijayan had said the newly-coronated Kerala PCC President had once planned to kidnap his children, the Lok Sabha MP from Kannur K Sudhakaran has hit back at him saying that Pinarayi Vijayan was an accused in the murder of Vadikkal Ramakrishnan, an RSS worker killed in 1969 at Thalassery.

AAP leader Ratnesh Mishra exposes Sanjay Singh’s lies on ‘Ram Mandir scam’, calls him anti-Lord Ram. Details

AAP leader Ratnesh Mishra also alleged that he was sent from Delhi to Ayodhya to fan tensions between Hindu saints and BJP leaders and the temple Trust.

‘Made in Germany’ Imams to come up as country launches first Islamic training college, Turkish Muslim group upset

Opposing the move, Milli Görüş a Turkish-Muslim group believes that the training of imams should be "free from external influences, especially political ones.”

Google removes ‘Ghazwa e Hind’ app from play store after uproar

Ghazwa-e-Hind that literally translates to 'holy raid of India', is a common term used by Islamic invaders and terrorists. The term finds its origin in Islamic literature named Hadiths.

Those with more than two kids wont get govt benefits, Assam CM Himanta Biswa Sarma announces adoption of two-child policy

Himanta Biswa Sarma pointed out that families of the tea gardeners, Scheduled Castes, and Scheduled Tribes will be exempted from the policy.

Kerala family threatened for criticising Lakshadweep actor Aisha Sultana on her ‘COVID bioweapon’ remark

The couple revealed that all the calls were made from untraceable telephone exchanges, including one from Bangladesh. Their differently-abled son was also attacked on social media.

Recently Popular

Republic TV issues statement over Arnab Goswami’s disappearance from the news network: Here is what they said

Arnab Goswami was last seen on May 2 during a discussion on West Bengal assembly polls. He will make a return on Monday.

OBC benefits for Muslims: How WB Police’s recruitment drive has exposed how parties found a way to make religious reservations

The drive was meant to fill vacancies in the OBC-A category in the state. The list showed that apart from one or two individuals, all of them were Muslims.

Who is Vishal Jood? An Indian national arrested for taking on Khalistani extremists in Australia

Vishal Jood, the 24 yar old from Haryana, has been languishing in a jail in the down in the country for two months now.

TISS research paper calls Kashmir ‘India occupied’, blames Indian Army for domestic violence in Kashmiri society

A dissertation paper by a student at TISS-Hyderabad has come under the scanner for calling Kashmir "India occupied Kashmir".

TV9 Bharatvarsh documentary shows ISIS bride Shamima Begum holding a document with Congress party’s logo: This is how it happened

Instead of using original footage, TV9 Bharatvarsh used a digitally altered the image of Shamima Begum from a satire site

Exclusive details: Here are some of the points that the Parliamentary Standing Committee, headed by Shashi Tharoor, raised with Twitter

Indian officials of the microblogging site Twitter were questioned by the Parliamentary Panel on Information Technology on various issues.
- Advertisement -

 

Connect with us

255,564FansLike
554,688FollowersFollow
24,400SubscribersSubscribe