“To see a riot in the chair of the US Senate and that our elected representatives are being told to seek cover under their seats is appalling and an insult to the Republic,” Signature Bank said in a statement. . “We were witnesses to the President of the United States who encouraged the rioters and prevented them from calling in the National Guard to protect Congress in its performance.”
The moves by Trump’s banks are the clearest signs yet of an imminent financial setback for his business empire as he leaves office facing widespread repudiation for inciting the January 6 mob attack that disrupted Biden’s election certification. A growing number of large financial institutions and other businesses have spoken out against the events and announced plans to discontinue financial support for Republican officials.
Deutsche Bank’s break with Trump follows years of intense public inquiry and lawsuits caused by the engagement with the president. After the Democrats seized control of the House majority in 2018, they launched an investigation into the bank’s transactions with Trump, and issued subpoenas that sparked a legal battle in the U.S. Supreme Court.
Deutsche Bank declined to comment on its relationship with Trump. The New York Times reported earlier that the bank has decided not to do business with the president anymore.
The Trump organization did not immediately respond to a request for comment. The White House also did not respond.