Brandon Lee
In 2018, the Trump administration waived part of the punishment for five megabanks, including Deutsche Bank, whose affiliates were convicted and fined for manipulating global interest rates. Deutsche Bank is also central to investigations by the Manhattan District Attorney due to longstanding ties to President Donald Trump, who owes the bank at least $130 million. The bank has also been fined for its involvement in a Russian money laundering scheme.
| Characteristics | Values |
|---|---|
| Did Trump waive fines for Deutsche Bank? | Yes |
| Amount owed by Trump to Deutsche Bank | $130 million or more |
| Deutsche Bank's involvement in Russian money laundering scheme | Fined $425 million by New York State for laundering $10 billion |
| Deutsche Bank's involvement in LIBOR scandal | Paid $3.5 billion in fines, the most out of all banks |
| Obama administration's involvement | Granted temporary one-year waivers to Deutsche Bank and four other banks in 2016 |
| Trump administration's involvement | Issued new, longer waivers to the same five banks, including Deutsche Bank |
| Trump's relationship with Deutsche Bank | Allegations of conflict of interest; lack of transparency in financial dealings |
| Deutsche Bank's response | Taking responsibility for actions and cooperating with authorities |
| Other Deutsche Bank controversies | Bribery scheme in Saudi Arabia, corrupt dealings in China, compliance rule violations in dealings with Jeffrey Epstein |
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What You'll Learn
Trump owed Deutsche Bank $130 million
The relationship between Donald Trump and Deutsche Bank has been a complicated one, with the bank being one of the few willing to lend to Trump after a series of corporate bankruptcies starting in the early 1990s. The total lending by Deutsche Bank to Trump and his companies since the 1990s is more than $2.5 billion, although Trump has paid back most of this debt.
In January 2021, it was reported that Deutsche Bank was cutting ties with Trump and his organization, ending a tricky two-decade relationship. At the time, the bank had around $340 million in loans outstanding to the Trump Organization, with three loans against Trump properties due in 2023 and 2024. The decision to cut ties came in the wake of the riots in the U.S. Capitol, with several other businesses also distancing themselves from Trump.
Previously, in May 2021, Deutsche Bank was ordered to pay $130 million to avoid a bribery charge. The bank, which had already been fined billions of dollars for lax controls on money laundering and violating sanctions, agreed to a criminal fine of $85,186,206 and a payment of $43,329,622 to settle a U.S. Securities and Exchange Commission action.
The Trump administration had also waived part of the punishment for five megabanks, including Deutsche Bank, whose affiliates were convicted and fined for manipulating global interest rates. At the time, Trump owed Deutsche Bank at least $130 million, making the waiver controversial.
The relationship between Trump and Deutsche Bank has been under scrutiny, with investigations by the Manhattan District Attorney and New York Attorney General considered a potential legal threat to Trump. These investigations have subpoenaed the bank for documents related to Trump and his organization, with a focus on possible money laundering, illicit financial deals, fraud, and foreign influence in the 2016 elections.
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Deutsche Bank was fined for money laundering
Deutsche Bank, headquartered in Germany, has been fined multiple times for money laundering. In 2017, the bank was fined over $630 million by the US and UK authorities for its involvement in a Russian money laundering scheme. The US regulator, the New York Department of Financial Services (DFS), fined the bank $425 million, while the UK's Financial Conduct Authority (FCA) imposed a fine of £163 million. This was due to the bank's failure to prevent the laundering of $10 billion from Russia, which exposed the financial systems of both countries to potential financial crime.
In addition to the Russian money laundering case, Deutsche Bank has also faced other fines and scrutiny related to its anti-money laundering (AML) controls and practices. In 2025, the US Federal Reserve fined Deutsche Bank $186 million for "unsafe and unsound banking practices" and non-compliance with consent orders related to sanctions and AML controls. The Fed cited insufficient progress in addressing these issues, which were initially flagged in 2015 and 2017.
The Trump administration has been implicated in the matter due to its connections with Deutsche Bank. President Donald Trump and his business empire were reported to owe the bank at least $130 million. Despite this conflict of interest, the Trump administration granted waivers to Deutsche Bank, along with four other megabanks, in 2018. These waivers pertained to the manipulation of global interest rates and the LIBOR scandal, rather than money laundering charges. However, the timing and nature of these waivers have raised questions about potential influence and conflicts of interest.
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Deutsche Bank was fined for bribery
Deutsche Bank, a German multinational financial services company headquartered in Frankfurt, has been fined on multiple occasions for its involvement in bribery and corruption schemes. In 2021, the bank agreed to pay approximately $130 million to avoid criminal prosecution on charges of participating in a foreign bribery scheme in Saudi Arabia. The bank was accused of bribing intermediaries, labelling the payments as "referral fees" for consultants to secure deals in Saudi Arabia between 2009 and 2016. Deutsche Bank also faced scrutiny for its involvement in a Russian money laundering scheme and was fined by New York State for laundering $10 billion.
The Trump administration waived part of the punishment for Deutsche Bank, along with four other megabanks, despite the bank being owed at least $130 million by President Trump and his business empire. This waiver was granted despite the bank's involvement in the LIBOR scandal and its role in money laundering.
In addition to the above, Deutsche Bank has faced regulatory scrutiny and fines from various entities. They have been fined by the Securities and Exchange Commission for violating the Foreign Corrupt Practices Act, resulting in a $120 million fine. The bank was also fined $150 million by the New York State Department of Financial Services for failing to properly monitor the illicit financial activity of Jeffrey Epstein, a sex offender and financier accused of sex trafficking.
Deutsche Bank has also faced penalties from the Federal Reserve for failing to address money laundering control issues, resulting in an $186 million fine. The bank has struggled to comply with regulations and has been under scrutiny for years. The bank has also been accused of facilitating sex trafficking by Jeffrey Epstein and paid $75 million to settle a lawsuit by women who were abused by him.
The total fines and penalties incurred by Deutsche Bank amount to a significant sum, with the bank taking steps to improve its compliance and address regulatory concerns.
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Deutsche Bank was fined $425 million by New York State
In 2018, the Trump administration waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. Deutsche Bank was one of these banks, and it had been fined $425 million by New York State for laundering $10 billion from Russia. This fine was issued as part of the LIBOR scandal, which involved illegally manipulating the London Interbank Offered Rate, used to set the cost of borrowing for financial transactions. The scandal led to $9 billion in fines from regulators worldwide, with Deutsche Bank paying $3.5 billion, more than any other bank.
The Trump administration's waiver for Deutsche Bank caused controversy due to the bank's close financial ties with President Trump. According to reports, Trump owed Deutsche Bank at least $130 million, with some estimates placing the figure as high as $300 million. The waiver allowed Deutsche Bank to continue managing corporate retirement plans despite pleading guilty to criminal charges related to errant currency trading practices.
The timing of the waiver also raised suspicions, as it was issued during the Christmas holiday week in 2017. Experts pointed out that the Trump administration may have attempted to sneak the waiver through during the holiday rush. The waiver granted to Deutsche Bank stood out due to the lack of transparency around Trump's financial dealings with the bank.
Deutsche Bank's involvement in the LIBOR scandal was not its only legal issue. The bank has faced scrutiny for its role in a Russian money laundering scheme and has been questioned as part of the federal investigation into suspected Russian meddling in the 2016 U.S. presidential election. Additionally, Deutsche Bank has been fined for corrupt dealings in Russia and China, including a $16 million fine for the Securities and Exchange Commission.
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Deutsche Bank received a waiver from the Trump administration
In January 2018, the Trump administration waived part of the punishment for five megabanks, including Deutsche Bank, whose affiliates were convicted and fined for manipulating global interest rates. The waiver allowed these banks to continue managing corporate retirement plans despite pleading guilty to criminal charges relating to errant currency trading practices.
Deutsche Bank was one of the few banks willing to lend to Trump after a series of corporate bankruptcies starting in the early 1990s. The bank is owed at least $130 million by Trump and his business empire. Their financial relationship has prompted allegations of a conflict of interest.
The waiver for Deutsche Bank was granted just over a year after the bank was fined $425 million by New York State for laundering $10 billion out of Russia. The bank has also been questioned as part of the federal investigation into suspected Russian meddling in the 2016 US presidential election.
The timing of the waiver raised suspicions that the government may have tried to sneak it through during the holiday season. However, experts noted that such waivers were \"pretty standard\" until a few years ago. While the waiver for Deutsche Bank drew attention due to the opacity of Trump's financial holdings, there is no evidence of a quid pro quo between Trump's finances and the bank.
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Frequently asked questions
Yes, the Trump administration waived fines for Deutsche Bank, which is owed at least $130 million by Trump and his business empire.
Deutsche Bank has been fined for its involvement in a Russian money laundering scheme, as well as violating sanctions against Iran, Libya, and Sudan.
The waivers were issued in a little-noticed announcement during the Christmas holiday week, less than two years after Trump promised, "I'm not going to let Wall Street get away with murder." The move prompted allegations of a conflict of interest.
Deutsche Bank has been central to investigations by the Manhattan District Attorney. Congress has been asking for detailed records of Trump family business interactions with the bank, investigating the relationship for possible money laundering, illicit financial deals, fraud, and foreign influence in the 2016 elections.
