Deutsche Bank declined to give President Trump a loan in 2016 after the then-candidate requested funds for his Trump Turnberry golf property in Scotland, The New York Times reported Saturday.
Senior bank officials, including its future CEO, debated giving Trump a loan because they believed Trump’s polarizing candidacy created too many risks, three people with knowledge of the request told the Times.
The officials also raised concerns about a situation in which Trump could win the presidency and default on the loan, in which case the bank would have to seize assets from the president or not collect the debt.
Trump Organization spokeswoman Amanda Miller denied that the company had sought a loan, telling the Times that it was able to finance work on the Turnberry resort independently. She did not address whether the organization requested a loan from Deutsche Bank.
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Deutsche Bank had previously given loans to Trump, lending him $125 million in 1998 for renovations on a Wall Street skyscraper and lending or participating in loans to Trump and his companies for more than $2.5 billion over 17 years after that, according to the Times.
Special counsel Robert Mueller has reportedly subpoenaed records of Trump’s transactions with Deutsche Bank, though the White House has denied such reports.
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Deutsche Bank turned Trump down for loan he requested in 2016: report https://t.co/8RmUDCVcWG pic.twitter.com/wykF4VY5lA
— The Hill (@thehill) February 2, 2019
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