Florida bank says it has closed Trump's accounts
A Florida bank announced Thursday that it has closed down former President Trump’s account, joining a growing list of entities that have cut ties with the former president following the deadly Jan. 6 Capitol riot.
In his financial disclosures, Trump had stated he had two money-market accounts with Banks United, The Washington Post reports. The accounts held somewhere between $5.1 million and $25.2 million.
“We no longer have any depository relationship with him," said Banks United, without giving reasons for its decision to shutter the accounts.
Another Florida bank, Professional Bank, last week announced that it would be cutting ties with Trump, saying it would no longer conduct business with the former president or his organizations.
Signature Bank in New York and Deutsche Bank have also said they will no longer be conducting future business with Trump. Signature Bank notably took a strong stance against Trump and his allies in Congress, calling for him to resign and saying it would not conduct business with lawmakers who had objected to certifying the presidential election.
Deutsche Bank is seeking to resolve more than $300 million in loans, reportedly looking to offload the loans onto another lender due to the negative press their dealings with Trump has caused. Deutsche Bank's relationship with the Trump Organization is under a civil investigation by New York attorney general Letitia James.
James is investigating claims made by Trump's former personal attorney Michael Cohen that he had inflated the value of his assets and financial statements. Though the investigation is civil, James has said criminal charges may arise if anything suggesting criminality is discovered during her probe.
Manhattan district attorney Cyrus Vance is also conducting an investigation into whether or not Trump misrepresented the value of his assets in order to receive larger tax deductions.
Vance recently expanded his investigation to include the Trump family's Westchester County estate, a historic mansion called Seven Springs, built by former Washington Post publisher Eugene Meyer.
Former Attorney General Jeff Sessions is telling associates he had no idea his Justice Department seized phone records of two top Democratic congressional critics of then-President Donald Trump. In the hours since The New York Times broke the news on Thursday that prosecutors subpoenaed Apple metadata from Reps. Adam Schiff (D-CA) and Eric Swalwell (D-CA), former Attorney General Sessions has privately told people that he wasn’t aware of, nor was he briefed on, the reported data seizures while he led the Trump DOJ. This week’s revelations were a surprise to him, according to a source familiar with the matter, and another person close to Sessions.
As the world economy awakens from the 15-month slumber caused by the pandemic, Deutsche Bank has launched a series of research articles to spark debate and discussion about pressing post-pandemic economic issues. On June 7, Deutsche Bank issued its first report of the new series, titled “Inflation: The defining macro story of this decade.”
The US justice department’s internal watchdog launched an investigation on Friday after revelations that former president Donald Trump’s administration secretly seized phone data from at least two House Democrats as part of an aggressive leaks inquiry related to the Russia investigation into Trump’s conduct.
Donald Trump called Joe Biden a “mental retard” during the 2020 election, a new book says, but was reluctant to attack him too strongly for fear the Democrats would replace him with Hillary Clinton or Michelle Obama. Biden went on to beat Trump by more than 7m in the popular vote and by 306-232 in the electoral college, a result Trump deemed a landslide when it was in his favor against Clinton in 2016.