Comment on In an Odd Move, Trump Shifts His Banking Business to a Small Firm in Florida

In an Odd Move, Trump Shifts His Banking Business to a Small Firm in Florida

With his relationship with Deutsche Bank under increasing scrutiny, President Donald Trump, in a move not previously reported, has recently shifted some of his banking business from this global institution to a small and relatively new bank in South Florida. As Democrats in Congress have requested information from Deutsche Bank about its dealings with Trump—the firm has loaned him billions over the years—he appears to have closed his brokerage accounts with the German company and has deposited millions of dollars with the Coral Gables-based Professional Bank, which last year gave Trump an eight-figure loan to buy a property adjacent to his private club Mar-a-Lago. Trump’s burgeoning business ties to Professional Bank comes amidst escalating tensions between Trump and Deutsche Bank.

 

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