Florida bank closes two of Trump's accounts that held $5.1M and $25.2M, Eric Trump slams 'cancel culture'
Several banks are severing ties with former President Donald Trump after he was blamed for "inciting" the January 6 Capitol riots. A Florida bank announced on Thursday, January 21 that it had shut down Trump's account, joining a growing list of entities that have distanced themselves from the 45th president since Joe Biden's election victory was certified by Congress.
According to The Washington Post, Trump had stated in his financial disclosures that he had two money-market accounts with Banks United, which held somewhere between $5.1 million and $25.2 million. “We no longer have any depository relationship with him," Banks United told the paper, without explaining why it decided to shutter the accounts.
Professional Bank — another bank in Florida — announced last week that it would be cutting ties with Trump and would no longer conduct business with him or his organizations. Meanwhile, Signature Bank in New York and Deutsch Bank have also decided not to conduct business with anything connected to Trump. In fact, Signature Bank took a hardline stance against Trump and his allies in Congress — saying it would not conduct business with lawmakers who supported Trump in objecting to the certification of the 2020 election results.
Deutsch Bank is reportedly looking to offload more than $300 million in loans onto another lender due to the "negative press" caused by their dealings with Trump, according to The Hill. New York attorney general Letitia James is currently spearheading a civil investigation into Deutsche Bank's relationship with the Trump Organization.
The New York Democrat is reportedly probing claims made by Trump's former attorney Michael Cohen, who alleged that his client had inflated the value of his assets and financial statements. According to James, despite the civil nature of the investigation, criminal charges may be brought on if anything "suggesting criminality" is discovered by her team.
Earlier this month, Eric Trump came to the defense of his father. Speaking to The Associated Press in an interview, Trump's second son blasted "cancel culture" as the reason behind the slew of businesses that have chosen to cut ties with the family's operations since Trump was blamed for inciting the break of the US Capitol on January 6.
Eric Trump is executive vice president of the Trump Organization, with which the Deutsch Bank cut all ties following backlash from Trump's critics. Meanwhile, the PGA decided against holding the 2022 championship tournament at the Trump's golf club in Bedminster, New Jersey. According to the Washington Post, real estate giant Cushman & Wakefield has also severed its relationship with the Trump Organization.
“We live in the age of cancel culture, but this isn’t something that started this week. It is something that they have been doing to us and others for years,” Eric Trump said as House Democrats prepared to vote to impeach his father. “If you disagree with them, if they don’t like you, they try and cancel you,” Eric Trump asserted. “You have a man who would get followed to the ends of the Earth by a hundred million Americans,” he said of his father elsewhere in the interview. “He created the greatest political movement in American history and his opportunities are endless.”