Bank closes down Donald Trump’s accounts in wake of his incitement of U.S. Capitol attack
We always knew that if Donald Trump lost the 2020 election, his financiers would begin eating him alive once he’s out of office. After all, he’s the world’s worst credit risk and his entire financial “empire” is a house of cards. So why would they bother to keep him afloat once he can’t abuse his office to punish them for it?
Now it turns out one bank isn’t even waiting until Trump is out of office. And instead of merely dumping him for financial reasons, it’s dumping him in protest of the fact that Trump tried to violently overthrow his election loss.
The New York Times is reporting that Signature Bank, which previously had a very close relationship with Donald Trump, has begun closing his accounts worth more than $5 million. This won’t be a huge monetary blow to Trump on its own. But as we’ve seen over the past week, these kinds of moves tend to set off chain reactions. We won’t be surprised if other, larger banks with heftier Trump holdings also begin liquidating his accounts.
Notably, Signature Bank is also saying that it won’t do business going forward with any of the members in Congress who refused to certify the Electoral College results. This will represent a blow to more than a hundred Republicans, who are also seeing a number of corporate donations being cut off this week. The tidal wave of backlash against Trump and his co-conspirators just keeps growing.
