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US senator presses Deutsche Bank for details of Trump loans
Source: The Guardian
US senator presses Deutsche Bank for details of Trump loans
Chris Van Hollen asks Germany’s biggest bank for assurances
it will not use the US president’s loans as ‘leverage’
Stephanie Kirchgaessner and Luke Harding
Wednesday 12 April 2017 17.29 BST
Germany’s biggest bank is coming under pressure from a US senator to give further details of its lending to Donald Trump and meetings it has had with the administration.
Chris Van Hollen has written to Deutsche Bank asking for assurances that it will not use the president’s outstanding multimillion-dollar loans as “leverage”. The Democratic senator is also demanding to know whether the bank has restructured Trump’s debt or sold it to “foreign entities”.
Trump currently has two loans and two mortgages with Deutsche Bank and owes it about $340m (£270m). The bank has also extended another $950m to a venture in which Trump owns a 30% stake, the Wall Street Journal reported in January.
Van Hollen, who sits on the Senate banking committee, said he had “great concern” about possible conflicts of interest between Deutsche and Trump and questions about whether the bank’s role as the president’s largest creditor could influence multiple ongoing investigations into the German bank.
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Chris Van Hollen asks Germany’s biggest bank for assurances
it will not use the US president’s loans as ‘leverage’
Stephanie Kirchgaessner and Luke Harding
Wednesday 12 April 2017 17.29 BST
Germany’s biggest bank is coming under pressure from a US senator to give further details of its lending to Donald Trump and meetings it has had with the administration.
Chris Van Hollen has written to Deutsche Bank asking for assurances that it will not use the president’s outstanding multimillion-dollar loans as “leverage”. The Democratic senator is also demanding to know whether the bank has restructured Trump’s debt or sold it to “foreign entities”.
Trump currently has two loans and two mortgages with Deutsche Bank and owes it about $340m (£270m). The bank has also extended another $950m to a venture in which Trump owns a 30% stake, the Wall Street Journal reported in January.
Van Hollen, who sits on the Senate banking committee, said he had “great concern” about possible conflicts of interest between Deutsche and Trump and questions about whether the bank’s role as the president’s largest creditor could influence multiple ongoing investigations into the German bank.
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Read more: https://www.theguardian.com/business/2017/apr/12/us-senator-presses-deutsche-bank-for-details-of-trump-loans
