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Deutsche Bank No Longer Doing Business with Trump


NEW YORK (77 WABC/AP) – Deutsche Bank, Germany’s biggest bank, is the latest company to cut ties with President Donald Trump, which has been his primary lender for two decades. Trump owes the bank more than $300 million.

Separately, Deutsche Bank has agreed to pay fines and penalties of about $130 million to avoid criminal prosecution on charges it participated in a foreign bribery scheme involving Saudi Arabia. Lawyers for the bank waived its right to face an indictment on conspiracy charges Friday during a teleconference in New York City. Deutsche Bank said it had cooperated with federal authorities.

Signature Bank in New York is also following suit in the wake of the deadly riots at the U.S. Capitol Building last Wednesday.  According to Politico, the bank is closing Trump’s personal accounts and calling for his resignation.

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