Trump’s Bond Backer Illegally Repo’d Soldiers’ Cars

The Daily Beast reports:

When billionaire financier Don Hankey underwrote Donald Trump’s $175 million bond this week, it wasn’t the first time that Trump had taken money out of his pocket—nine months into Trump’s first term in office, his Justice Department sued Hankey’s financial company for unlawful lending practices. The subject of that suit, however, also revealed a historical commonality with Trump: disrespecting members of the U.S. military.

According to the settlement agreement in the case, Hankey’s company—Westlake Services—had systematically violated the rights of military employees over a period of several years, illegally repossessing dozens of cars in violation of the Servicemembers Civil Relief Act. Westlake immediately settled, agreeing to pay $700,000 in damages to the affected servicemembers, along with a roughly $61,000 fine to the federal government.

Read the full article. Per the linked item, Hankey made his $7.4 billion fortune “targeting low-income customers with high-interest auto loans.” On a minor related note, Hankey’s $175M bond for Trump was today “returned for correction” due to screwed up paperwork, including naming an attorney of record.

🚨Violated SCRA Act against military members—guilty 2x, fines $1M+

Hankey’s past important context for Trump loan, & choppy history w/fed law enforcement—his firm would be regulated under potential 2nd Trump admin—casts loan in a new light. QUID-PRO-QUO https://t.co/EdbBLU8hJj

— Anne Bolynn (@RedAnneBolynn) April 3, 2024

On Monday night, it emerged that the only group willing to loan Trump a dime to cover the $175 million bond from his New York bank fraud trial is a company owned by the so-called “king of subprime car loans,” billionaire Don Hankey.https://t.co/MoaRDqovIY

— The New Republic (@newrepublic) April 2, 2024