Deutsche Bank Turned Down Trump for Loan in 2016

A cash-strapped Donald Trump asked Deutsche Bank for a loan during his presidential campaign, but was turned down, according to the New York Times. The request came in early 2016, when Trump was loaning tens of millions to his presidential campaign and spending extensively to expand his company’s property holdings. While the bank was one of the few financial institutions still willing to lend Trump money (after several bankruptcies in the 1980s and ‘90s), it ultimately refused. Trump’s request triggered a fight among top bank officials, who thought lending him money posed too much risk. They worried that if Trump won the presidency and then defaulted, the bank would be faced with two unfavorable choices: not collecting on this debt, or seizing the president’s assets.