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Trump, Ongoing Humiliation... Bank Unilaterally Cuts Off Transactions

After the Parliamentary Intrusion Incident, One After Another Turned Their Backs Away

Trump, Ongoing Humiliation... Bank Unilaterally Cuts Off Transactions [Image source=AP Yonhap News]



[Asia Economy Reporter Kwon Jae-hee] Former President Donald Trump, who left the White House and moved to Palm Beach, Florida, where his private resort Mar-a-Lago is located, is facing continuous humiliation and controversy.


According to the Washington Post (WP) on the 21st (local time), BankUnited, a bank headquartered in Florida, has closed former President Trump's accounts.


On the same day, BankUnited issued a statement saying, "We no longer have a deposit relationship with former President Trump." The bank did not disclose any other specific reasons.


Former President Trump had held deposit accounts at this bank since 2015, and as of the end of 2020, WP reported that two accounts contained between $5.1 million and $25.2 million (approximately 5.6 billion to 27.7 billion KRW).


Since the January 6th incident where his supporters stormed the Capitol, former President Trump has been experiencing rejection from various quarters.


Following the severance of relationships by three of the four banks where former President Trump had large deposits, it has also been revealed that the venue for the 2022 PGA Championship, which was scheduled to be held at a golf course owned by Trump, was urgently changed.


New York City Mayor Bill de Blasio announced that all contracts with the Trump Organization would be terminated. New York is former President Trump's hometown, and the Trump Organization earned annual revenue of around 18 billion KRW through contracts with New York City for skating rinks and golf courses.


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