Exclusive: Tired of Trump, Deutsche Bank games ways to sever ties with the president - sources
By Matt Scuffham, Tom Sims, John O’Donnell
Reuter’s, Nov. 3, 2020
NEW YORK/FRANKFURT (Reuters) - Deutsche Bank AG is looking for ways to end its relationship with President Donald Trump after the U.S. elections, as it tires of the negative publicity stemming from the ties, according to three senior ba nk officials with direct knowledge of the matter.
Deutsche Bank has about $340 million in loans outstanding to the Trump Organization, the president’s umbrella group that is currently overseen by his two sons, according to filings made by Trump to the U.S. Office of Government Ethics in July and a senior source within the bank. The three loans, which are against Trump properties and start coming due in two years, are current on payments and personally guaranteed by the president, according to two bank officials.
In meetings in recent months, a Deutsche Bank management committee that oversees reputational and other risks for the lender in the Americas region has discussed ways in which it could rid the bank of these last vestiges of the relationship, two of the three bank officials said. The bank has over the years lent Trump more than $2 billion, one of the officials said.
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Warren’s Warning
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Elizabeth Warren, a Democrat member of the Senate banking committee, has previously called for an investigation into Deutsche Bank over its money laundering controls and has demanded answers from the lender about its relationship with Trump and his family. She told Reuters that she intended to keep pushing for a probe in the next administration.
“You bet I’m going to continue to fight for accountability and strong enforcement of our banking laws, especially for giant institutions like Deutsche Bank,” she said.
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https://www.reuters.com/article/us-usa-election-deutsche-bank-exclusive/exclusive-tired-of-trump-deutsche-bank-games-ways-to-sever-ties-with-the-president-sources-idUSKBN27J0G0
PS: What William Colby, former Director of Central Intelligence, said:
The Latin American drug cartels have stretched their tentacles much deeper into our lives than most people believe. It's possible they are calling the shots at all levels of government.
https://www.azquotes.com/quote/1463792
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