President Donald Trump on Monday rejected a New York Times report that raised questions about multiple Deutsche Bank transactions involving entities controlled by him and his son-in-law Jared Kushner.
Trump, in a series of tweets, denied the allegations in early morning tweets, saying he had so much money as a businessman that he did not need banks. He also denied that any of his cash came from Russia.
The Times reported that Deutsche Bank anti-money laundering specialists recommended that multiple transactions associated with Trump and his son-in-law, Jared Kushner, be flagged to federal authorities.
Bank executives rejected that advice.
The Times and others have reported the bank was the "only mainstream financial institution consistently willing to do business" with Trump due to his repeated defaults.
Trump insisted he didn't borrow from many banks because he "didn't need the money," not because they wouldn't do business with him.
Two House committees have subpoenaed Deutsche Bank and several other financial institutions as part of their investigations into Trump's finances. Trump, his familyand the Trump Organization have filed a lawsuit to try to stop them from complying.
Material from Reuters and The Associated Press was used in compiling this report.
© 2025 Thomson/Reuters. All rights reserved.