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Deutsche Bank breaks ties with Trump after the Capitol attack

“Witnessing a riot sitting in the Speaker of the U.S. Senate and our elected representatives being asked to seek cover under their seats is appalling and an insult to the Republic,” Signature Bank said in a statement. “We witnessed the President of the United States encouraging the rebels and refraining from calling on the National Guard to protect Congress in its performance.”

The movements of Trump’s banks are the clearest signs yet of imminent economic downturn in his business empire as he leaves office in the face of widespread rejection to shake up the January 6 mob attack that disrupted Biden̵

7;s election certification. A growing number of major financial institutions and other companies have spoken out against the events and announced plans to cut off financial support to Republican officials.

Deutsche Bank’s break with Trump follows years of intense public scrutiny and lawsuits triggered by its affiliation with the president. After gaining control of the House majority in 2018, Democrats launched an investigation into the bank’s relationship with Trump and issued 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 previously reported on 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.

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