UPDATE: New reports confirm that former President Donald Trump made more than 170 investments worth over $20 million in major banks while his administration was actively dismantling the federal agency that oversees them. This shocking revelation comes from federal ethics disclosures published on March 4, 2026, raising serious questions about conflicts of interest.
Between May and November 2025, Trump accumulated these investments in securities from top financial institutions, including Goldman Sachs, JPMorgan Chase, Wells Fargo, Bank of America, and Citigroup. The transactions were disclosed in late filings with the U.S. Office of Government Ethics (OGE), which noted that these notifications were submitted well beyond the legally required reporting timeframe, with some being more than 30 days overdue.
The OGE filings reveal that Trump’s investments included corporate bonds and preferred shares, which typically yield between 3 to over 8 percent annually. Despite the potential financial gains, the timing raises ethical concerns, as the Consumer Financial Protection Bureau (CFPB)—the agency responsible for overseeing these banks—was being systematically dismantled during the same period.
According to insiders, Trump’s acting CFPB director ordered a drastic reduction of staff, dropping numbers from approximately 1,700 under President Biden to fewer than 200. This severe cutback sparked multiple legal challenges and left the agency unable to fulfill its mandate to protect consumers.
The ethics disclosures also indicate that Trump paid late filing fees for several of these transactions, which were flagged as overdue at the time of submission. The upper end of the disclosed investment values suggests that the total could exceed £15.5 million (approximately $20 million), although precise totals are difficult to ascertain due to the broad range of values reported.
The implications of these transactions are significant. Trump’s investments directly benefited from deregulatory efforts, including the repeal of the CFPB’s overdraft fee rule, which allowed banks to charge higher fees. In 2024, consumers paid approximately £9.4 billion ($12.1 billion) in overdraft fees alone, highlighting the potential impact on everyday Americans.
Critics, including former OGE director Walter Shaub, have condemned Trump’s actions as emblematic of corruption that ethics laws were designed to prevent. He stated, “The pattern of late filings and bank investments while policy decisions benefited those same banks represents a serious ethical breach.”
Despite these revelations, the White House has yet to comment, and Trump’s legal exemptions as a sitting president mean he faces no repercussions for these transactions. The OGE can only flag discrepancies and notify the Department of Justice, but enforcement against a sitting president remains largely uncharted territory.
As this story develops, the public will be watching closely for any further disclosures or reactions from Trump’s camp. The intersection of finance, politics, and ethics will continue to fuel discussions as analysts and citizens alike grapple with the implications of Trump’s financial maneuvers during his presidency.
Stay tuned for updates as more information comes to light.
