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Bank with ties to Ivanka, Jared Kushner, Michael Cohen, Trump Org under scrutiny



Jared Kushner and Ivanka Trump
Jared Kushner and Ivanka

Win McNamee/Getty

  • Signature Bank became a go-to lender for the Trump and
    Kushner families.
  • It’s now under increased scrutiny.
  • The bank’s chairman told The New York Times that
    executives feel “abused” by inquiries into past

A small New York-based bank became a go-to lender for the Trump
family and some closely connected to it, as The New York Times reported

Now the bank finds itself under increased scrutiny for some of
that business, and the bank’s chief executive told The Times it
feels “abused.”

Over the past decade, Signature Bank provided loans to:

  • President Donald Trump’s Florida golf course
  • Michael Cohen, Trump’s former longtime lawyer
  • Jared Kushner, Trump’s son-in-law and a senior White House
  • Kushner’s father Charles Kushner
  • The bank also provided Trump and the Trump Organization with
    checking accounts while Ivanka Trump, Trump’s daughter and an
    assistant to the president, sat on its board of directors.

The Times reported that the New York Department of Financial
Services requested information from Signature Bank about its
business with the Kushner family. The state is looking into
whether the younger Kushner’s White House job could compromise
the bank’s ability to collect its loans. Meanwhile, the review
was broadened to include a review of whether the bank lent
Kushner Companies money knowing that the business planned to
engage in abusive behavior with low-rent tenants, according to
The Times. The investigation could include other banks.

“We recognize we are not perfect,” Signature chairman Scott Shay
said in a statement to The Times. “However, any allegation that
we knowingly or somehow actively abet tenant harassment is
frankly a slander against Signature Bank and an unfair impugning
of the reputations of many hardworking colleagues who strive to
be a positive force for not only our shareholders and depositors
but our community as well.”

A Kushner Companies spokesperson told The Times that their
business with Signature Bank has been “entirely appropriate,”
adding that the investigations the company faces are politically

Trump Organization spokeswoman Amanda Miller told The Times that
the president’s namesake businesses dealings with Signature Bank
“were few and far between and limited in scope.”

The bank, meanwhile, told The Times it’s being unfairly punished
for lending to the Trump’s and Kushner’s prior to the 2016
presidential election.

“We feel abused,” Shay said.

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