International bank wants to cut ties with Trump Organization
One of the sources of funding for the Trump Organization, Deutsche Bank, will be attempting to sever ties with President Donald Trump after the election. The Trump Organization has incurred nearly $340 million in outstanding debt as Donald Trump Jr. and Eric Trump are managing the organization.
Three senior bank officials of Deutsche have disclosed that they want to cut ties after being affiliated with all of Trump’s negative publicity. There are currently three loans against Trump with the Deutsche Bank and a management committee overseeing reputational risks for the bank is strategizing on how to sever the relationship with Trump.
(Photo: cmophoto.net)
Over the last couple of years, Deutsche Bank has lent Trump over $2 billion in loans and set up a working group in 2016 to review Trump’s relationship with the bank. One way to cut ties with Trump would be for Deutsche Bank to see the loans in the secondary market but isn’t a concrete tactic as bank officials are unclear who would want to buy the loans and the attached risk.
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