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Thu Jan 21, 2021, 02:29 PM

Florida-based bank announces it is closing Trump's accounts

Source: Washington Post

David A. Fahrenthold

Another one of former president Donald Trump’s banks said Thursday that it is closing his accounts, as Trump returns to a business hammered by covid-19 and the backlash to Trump’s role in the deadly attack on the Capitol.

“We no longer have any depository relationship with him," Bank United said Thursday. The bank declined to give a reason for its decision.

The Florida-based bank had held some of Trump’s money since at least 2015, according to the former president’s financial disclosures. At the end of 2020, Trump said he had two money market accounts at Bank United, containing between $5.1 million and $25.2 million combined. The financial disclosure forms allowed Trump to list his assets in ranges, rather than exact dollar amounts.

Since the Jan. 6 attack, a number of key partners, vendors and customers have cut ties with Trump’s company. That list now includes three of the four banks that held Trump’s largest deposits: Signature Bank and Professional Bank announced their decisions earlier this month. The fourth, Capital One Bank, has declined comment, saying it does not discuss current or former customer relationships.

Read more: https://www.washingtonpost.com/politics/2021/01/21/joe-biden-live-updates/



Sorry Donald, you can't get cash from the ATM

31 replies, 7211 views

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Reply Florida-based bank announces it is closing Trump's accounts (Original post)
Wicked Blue Jan 2021 OP
mahatmakanejeeves Jan 2021 #1
soothsayer Jan 2021 #3
soldierant Jan 2021 #20
Budi Jan 2021 #2
winstars Jan 2021 #4
njhoneybadger Jan 2021 #11
Corgigal Jan 2021 #5
lastlib Jan 2021 #6
Escurumbele Jan 2021 #10
sandensea Jan 2021 #24
martalcd Jan 2021 #7
progree Jan 2021 #8
MyOwnPeace Jan 2021 #22
Grasswire2 Jan 2021 #9
ScratchCat Jan 2021 #13
Grasswire2 Jan 2021 #23
liberalmuse Jan 2021 #12
KS Toronado Jan 2021 #14
OldManTarHeel Jan 2021 #15
liberalmuse Jan 2021 #18
Wicked Blue Jan 2021 #21
OldManTarHeel Jan 2021 #29
rurallib Jan 2021 #25
bringthePaine Jan 2021 #16
keithbvadu2 Jan 2021 #17
Pluvious Jan 2021 #19
DENVERPOPS Jan 2021 #26
FakeNoose Jan 2021 #27
Wicked Blue Jan 2021 #28
Totally Tunsie Jan 2021 #30
Wawannabe Jan 2021 #31

Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 02:34 PM

1. Know Your Customer

Know your customer

The know your customer or know your client (KYC) guidelines in financial services requires that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank's Anti-Money Laundering (AML) policy. KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed customers, agents, consultants, or distributors are anti-bribery compliant, and are actually who they claim to be. Banks, insurers, export creditors and other financial institutions are increasingly demanding that customers provide detailed due diligence information. Initially, these regulations were imposed only on the financial institutions but now the non-financial industry, fintech, virtual assets dealers, and even the non-profit organizations are liable to oblige.

{snip}

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Response to mahatmakanejeeves (Reply #1)

Thu Jan 21, 2021, 02:35 PM

3. He's a walking, talking risk

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Response to soothsayer (Reply #3)

Thu Jan 21, 2021, 05:11 PM

20. If I had written and issued

the commercial property policy on Mar-a-Lago (or any other of his properties) I'd be cancelling it (if I hadn't already)

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 02:34 PM

2. "We did not launder money for dotard"..

 

Please preserve all past financial records, cuz you never know ! 😬

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 02:36 PM

4. Junior is gonna have trouble getting $300 from an ATM for an eight ball at 2:30am!!!!

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Response to winstars (Reply #4)


Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 02:37 PM

5. When I was about 18 years old,

I had a bank close my account. I had under ten bucks in the account.

Maybe something similar occurred here.

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 02:40 PM

6. Hey, Donnie, need a bank?

Try the Bank of Moscow--you can get a good reference from your pal Vladdy, I'm sure!

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Response to lastlib (Reply #6)

Thu Jan 21, 2021, 03:07 PM

10. I have a feeling that Vlad has used all he could use from the buffoon, and the love is gone

I don't think Vladimir is a friend of the trumps anymore...Poor buffoon, all his "loyal" friends seems to be deserting him.

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Response to Escurumbele (Reply #10)

Thu Jan 21, 2021, 05:49 PM

24. +1

Cheeto's gone from useful idiot, to useless idiot.

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 02:43 PM

7. With no banks available to him, we'll see Trump shuffling through a local grocery store...

in his pajamas and slippers, to buy money orders.

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 02:52 PM

8. I wouldn't believe Trump even if he gave a wide range, unless it was -infinity to +infinity

The financial disclosure forms allowed Trump to list his assets in ranges, rather than exact dollar amounts.

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Response to progree (Reply #8)

Thu Jan 21, 2021, 05:31 PM

22. THAT is part of the "issue" in New York.........

questioning the true value of his holdings. For loans he claimed one number - for taxes it seems as though "he forgot" how high the other number had been......

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 03:05 PM

9. how can a bank "hold deposits" when he is 400 billion in debt?

Why don't the entities who hold those debts call for payment?

I don't get these massive floats.

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Response to Grasswire2 (Reply #9)

Thu Jan 21, 2021, 03:15 PM

13. The debt is mostly real estate loans

There are payments and then balloons, and the lump sums are not due yet. Its really no different than you or I having a mortgage and a checking account.

He's just going to end up declaring bankruptcy again and will end up giving-up/selling off buildings and golf courses to settle the debt. His cash flow has been significantly harmed by both Covid-19 and his stupidity in destroying his own brand. His kids will end up with half a decade of financial and legal issues revolving around all his failed businesses.

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Response to ScratchCat (Reply #13)

Thu Jan 21, 2021, 05:41 PM

23. Feds may seize all the assets (so-called) for back taxes that were evaded.

Plus penalties.

And maybe criminal indictments.

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 03:11 PM

12. Methinks he is banking in China now.

Even though many of his administration officials are banned from China, Trump's name was conspicuously absent from that list.

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Response to liberalmuse (Reply #12)

Thu Jan 21, 2021, 04:05 PM

14. Methinks he'll be hiding money under mattresses

He's afraid of any paper trail

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Response to KS Toronado (Reply #14)

Thu Jan 21, 2021, 04:18 PM

15. Or a My Pillow . .

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Response to OldManTarHeel (Reply #15)

Thu Jan 21, 2021, 04:32 PM

18. Those deflate pretty quickly...

but no fear. Lindsay Graham will come over to Mar a Largo and fluff it for him.

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Response to liberalmuse (Reply #18)

Thu Jan 21, 2021, 05:13 PM

21. ...

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Response to liberalmuse (Reply #18)

Thu Jan 21, 2021, 06:42 PM

29. Oh Lordy that was great

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Response to liberalmuse (Reply #12)

Thu Jan 21, 2021, 05:55 PM

25. NYT disclosed that he did have accounts there

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 04:26 PM

16. pressure CapOne and DB hard now, while monitoring Vladi's shill corps

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 04:27 PM

17. Eric Trump in 2014: 'We have all the funding we need out of Russia ...

Eric Trump in 2014: 'We have all the funding we need out of Russia ...

https://www.google.com/search?client=firefox-b-1-d&q=erik+trump+money+from+russia

And now?

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 05:04 PM

19. At least the BLOTUS still has bank account in China nt.

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 06:07 PM

26. And, more importantly,

you can't use the U.S. Government as your personal ATM any longer.....

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 06:22 PM

27. He keeps trying to deposit checks that are handwritten in Russian



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Response to FakeNoose (Reply #27)

Thu Jan 21, 2021, 06:23 PM

28. LOL!

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Response to Wicked Blue (Original post)

Thu Jan 21, 2021, 07:04 PM

30. At this rate, he'll be lucky to have a Christmas Club.

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Response to Wicked Blue (Original post)

Fri Jan 22, 2021, 12:48 PM

31. My money is on

They’ve always known it is/was “cleaned” money....but now that there is actually a sheriff in town...they needed to get that dirty money outta their bank.

Just sayin

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