The National Archives reported Friday that Florida banks closed Trump‘s accounts without explanation, and more banks promised to follow suit.
The National Register says the banking institution is committing political persecution in a “corporate shunning” of former President Trump.
In what can only be seen as a case of political persecution by the private sector, a Florida bank has become the latest financial institution to dissolve its relationship with former President Donald Trump over inflammatory statements he has spread to discredit him, the report said.
Florida’s Bank United announced it has closed the former president’s account, severing its relationship with him.
Mr. Trump said he had two money market accounts at Bank United, which held between $5.1 million and $25.2 million in value.
“We no longer have any deposit relationship with him,” a spokesman for Union Bank said in a statement. No reason was provided for its decision to close the accounts, thus depriving the former president of his rights.
Specialty Bank, another Florida bank, issued a statement last week announcing the end of its relationship with Mr. Trump. In its statement – again without providing any reason – the financial institution’s management said it would no longer conduct business with the former president or his organization.
Two A-rated financial institutions, New York-based Crypto Friendly Bank (SignatureBank) and Deutsche Bank, also declined to do business with Mr. Trump.
Crypto Friendly Bank has spoken out against the former president and his allies in Congress by dissolving their relationship. An official statement from the institution called on Mr. Trump to resign in his final days in office.
In addition, Crypto Friendly Bank attacked the U.S. Constitution by threatening not to do business with any member of Congress who opposes certifying presidential elections, a right granted to elected officials who conduct Electoral College voting certifications.
In 2016, several Democrats challenged Mr. Trump’s list of electors in Alabama. It is unclear whether the crypto-friendly bank has done business with these members of Congress.
Deutsche Bank is seeking to unwind more than $300 million in loans with the Trump Organization. The German multinational investment bank is reportedly looking to lose those loans to another lender, citing negative consequences resulting from their dealings with the former president.
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