“To witness a rioter sitting as President of the United States Senate and to be told our elected officials to take cover under their seats is appalling and an insult to the Republic,” Signature Bank said in a statement. “We have seen the President of the United States encourage rioters and refrain from using the National Guard to protect Congress in the line of duty.”
The actions Trump’s banks have taken are the clearest signs to date of an imminent financial comeback for his business empire as he steps down, facing widespread repudiation for stoking the mob’s attack on the January 6 that disrupted Biden’s electoral certification. A growing number of major financial institutions and other companies have spoken out against the events and announced plans to cut financial support for Republican officials.
Deutsche Bank’s break with Trump follows years of intense public scrutiny and litigation sparked by its association with the president. After taking control of the House majority in 2018, Democrats launched an investigation into the bank’s relationship with Trump, issuing subpoenas that sparked a legal battle all the way to the U.S. Supreme Court .
Deutsche Bank declined to comment on its relationship with Trump. The New York Times earlier reported the bank’s decision to cease doing business with the president.
The Trump Organization did not immediately respond to a request for comment. The White House did not respond either.