New York’s banking regulator has asked Deutsche Bank AG and a pair of local lenders to provide information about their relationships with Jared Kushner, his family and the Kushner Cos., according to people familiar with the matter.
The state’s Department of Financial Services sent letters to Deutsche Bank, Signature Bank and New York Community Bank last week, said one of the people, who described the letter.
Seeking a response by March 5, the DFS asked about the banks’ relationships with Kushner and his business properties, as well as documents and communications about certain loan requests.
The broad request, which also covers the banks’ processes for approving loans, comes from Maria Vullo, the department’s superintendent, who was appointed by New York’s Democratic governor, Andrew Cuomo.
Kushner stepped down from the family business when he joined the administration a year ago and divested some assets by transferring them to relatives.
“We have not received a copy of any letter from the New York State Department of Financial Services,” said Christine Taylor, a spokeswoman for the Kushner Cos.
“Our company is a multi-billion enterprise that is extremely financially strong. Prior to our CEO voluntarily resigning to serve our country, we never had any type of inquiries. These type of inquiries appear to be harassment solely for political reasons.”
Ciara Marangas, a spokeswoman for the DFS, declined to comment.
Representatives for Deutsche Bank and Signature Bank declined to comment.
A New York Community Bank representative didn’t immediately respond to a request for comment.
More Debt
Kushner has been in the spotlight in recent weeks over his security clearance, raising questions about whether his financial strains could compromise his work as a senior Trump adviser. Kushner and his wife, Ivanka Trump, have taken on more debt in the past year at banks including Signature Bank and New York Community Bank, according to their recent government disclosure. Deutsche Bank is also among more than half a dozen banks lending to the couple.
Deutsche Bank, Signature Bank and New York Community Bank are chartered in New York, placing them under the DFS’s oversight.
Several federal agencies have previously requested information from the Kushners, their banks and their business partners.
Tax authorities have requested documents within the past year from lenders and investors in some real estate projects managed by Kushner’s family, a person familiar with the matter told Bloomberg.
Separately, federal prosecutors in Brooklyn and the SEC have sought information related to Kushner Cos. use of a foreign investment visa program.
Last year, federal prosecutors also requested documents from Deutsche Bank related to a Manhattan retail property, formerly the New York Times headquarters, that the Kushners bought for $296 million in 2015.
The Kushners later refinanced the property at a higher appraised value. As part of the $370 million in loans, they took out $59 million in cash.
Seeking Emails
Vullo requested copies of emails and other communications between the Kushners and the banks related to financing requests that have been denied or are pending.
She also asked whether the banks have conducted any internal reviews of the Kushners and their companies and the results of any such inquiries revealed.
The most detailed information about the Kushners’ finances can be found in their government disclosures.
The couple had unsecured lines of credit of $5 million to $25 million each from Deutsche Bank, Signature Bank and New York Community Bank according to a late December filing.
Deutsche Bank’s line of credit was extended to Kushner and his mother; lines from the other two banks were extended to Kushner and his father.
Signature Bank also extended a secured line of credit to the couple of $1 million to $5 million, according to the disclosure
