Signature Bank Closing Trump's Bank Accounts, Deutsche Bank Cutting TiesChris Menahan
Jan. 12, 2021
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President Donald Trump is having his personal bank accounts closed in addition to being banned from every major social media platform and payment processor.
From The New York Times (Archive):
Deutsche Bank, which has been Mr. Trumpís primary lender for two decades, has decided not to do business with Mr. Trump or his company in the future, according to a person familiar with the bank's thinking. Mr. Trump currently owes Deutsche Bank more than $300 million, which is due in the next few years.The GOP and Trump himself had three years to address these deplatforming efforts and did nothing about it.
In fact, he instead expanded censorship by signing an executive order to make Jews on college campuses a "protected class" and punish critics of Israel.
Last week, Trump signed an executive order banning the use of Chinese payment apps, which American dissidents banned from PayPal and Stripe (as Trump's campaign has now been) may have found more hospitable.
In November 2020, the Trump administration finally got around to proposing a rule that would ensure banking access is determined only by creditworthiness and not political views.
"If the Trump administration finalizes the rule before President-elect Joe Biden takes office, [John Court, the head of regulatory affairs at the Bank Policy Institute, which represents the biggest banks in the country] says that would make it harder, but not impossible, for the new administration to undo it," NPR reported Monday. "And he says if it comes to it, banks would likely sue to try to stop the rule."
"The rule could also be scrapped by Congress through an oversight tool called the Congressional Review Act, especially since Democrats will now control both the House and the Senate."
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