2 Florida Banks Close Trump’s Accounts

January 22, 2021 Updated: January 22, 2021

Two Miami-area banks have cut ties with former President Donald Trump by closing his accounts, multiple outlets reported on Jan. 21.

Bank United, where Trump held between $5 and $25 million at the end of 2020, announced its decision on Thursday.

“We never had a lending relationship with Donald Trump and we no longer have any depository relationship with him,” a bank representative said in a statement emailed to the Miami Herald.

Professional Bank, where Trump held between $5 and $25 million, announced last week that it had closed Trump’s accounts.

The Trump Organization did not return a request for comment.

The announcements from the Florida banks follow similar moves by Signature Bank in New York and Deutsche Bank. The firms have cut their ties with Trump in the wake of the breach of the U.S. Capitol on Jan. 6. Democrats and the establishment media have accused Trump of inciting the attack by referencing portions of a speech he gave the same day at a different location in Washington.

During the speech, Trump urged the attendees to peacefully make their voices heard. The president was still speaking when the Capitol perimeter was breached a 30-45 minute walking distance away from the speech.

Epoch Times Photo
President Donald Trump greets the crowd at the “Stop The Steal” rally in Washington on Jan. 6, 2021. (Tasos Katopodis/Getty Images)

Less than a dozen House Republicans voted with the Democrats earlier this month to impeach Trump on a single charge of inciting an insurrection. The Senate trial is scheduled for early February, though the Constitutionality of the proceeding is disputed since Trump is now a private citizen.

New York City Mayor Bill de Blasio announced earlier this month that the city will terminate business contracts with Trump.

“I’m here to announce that the city of New York is severing all contracts with the Trump Organization,” de Blasio said in an interview on MSNBC.

De Blasio said the Trump Organization earns about $17 million a year in profits from its contracts to run two ice skating rinks and a carousel in Central Park as well as a golf course in the Bronx.

The city can legally terminate a contract if the leadership of a company is engaged in criminal activity, the Democratic mayor said.

A Trump Organization spokesperson said the city can’t cancel the contracts.

“The City of New York has no legal right to end our contracts and if they elect to proceed, they will owe The Trump Organization over $30 million dollars,” the spokesperson said in an emailed statement. “This is nothing more than political discrimination, an attempt to infringe on the First Amendment and we plan to fight vigorously.”

The PGA of America voted Sunday to take the PGA Championship away from his New Jersey golf course next year, a move that came after social media platforms disabled Trump’s accounts and Shopify took down online stores affiliated with him.

The Associated Press contributed to this report.

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