“To witness a rioter sitting in the presidency of the United States Senate and our elected representatives being instructed to seek cover under their seats is terrible and an insult to the Republic,” said the Signature Bank in a statement. “We witnessed the President of the United States encouraging the troublemakers and refraining from calling the National Guard to protect Congress in the line of duty.”
The moves by Trump’s banks are the clearest signs of an impending financial setback for his business empire as he leaves office and faces widespread rejection for stoking the January 6 mob attack that interrupted Biden’s electoral certification. An increasing number of large financial institutions and other corporations have spoken out against the events and announced plans to cut financial support for Republican officials.
Deutsche Bank’s breakup with Trump follows years of intense public scrutiny and litigation sparked by its association with the president. After gaining majority control in the House in 2018, Democrats initiated an investigation into the bank’s negotiations with Trump, issuing subpoenas that sparked a legal battle to the U.S. Supreme Court.
Deutsche Bank declined to comment on its relationship with Trump. The New York Times previously reported the bank’s decision to stop doing business with the president.
The Trump Organization did not immediately respond to a request for comment. The White House did not respond either.