Deutsche Bank has announced it will no longer do business with Donald Trump and his companies, following his role in last week’s deadly riots at the US Capitol.
The decision marks the end of one of Trump’s longest standing business relationships, and means he will no longer have access to his most important lender. The Trump Organisation, which is overseen by Donald Trump Jr and Eric Trump, currently owes Deutsche Bank more than $300 million in outstanding loans, per The New York Times.
Deutsche Bank’s relationship with Trump has been a bumpy road. At one point several decades ago, Deutsche Bank was the only lender willing to do business with Trump following a series of bankruptcies, but in 2008 the Apprentice host turned on the company, suing them for $3 billion in compensation after accusing them of being responsible for the financial crisis, The Guardian reports.