'That’s not the case': Legal expert corrects misconception about Trump’s borrowing options

Donald Trump was recently hit with an order requiring him to pay hundreds of millions of dollars for fraud in New York, and it also limited his ability to get certain loans, but there are some false assumptions floating around about that, one legal expert said on Saturday.

MSNBC legal analyst Lisa Rubin, a former litigator, said last week that the former president will "fall short" with his "latest attempt to freeze Jan. 6 case. Now, she has her eyes on the civil fraud case involving Judge Engoron.

Rubin this weekend took to her social media to clear up some things about the devastating order.

"Since Judge Engoron’s decision, folks have assumed that Trump cannot borrow from any major bank," Rubin said. "That’s not the case, according to a finance friend."

Rubin posted an image from the ruling, in which Engoron outlines the conclusions.

The Engoron order states that Trump and his family and company are "hereby enjoined from applying for loans from any financial institution chartered by or registered with the New York Department of Financial Services for a period of three years."

Many have interpreted this to mean that any bank registered to operate in New York would be off limits, but Rubin says not so fast.

"The order prohibits borrowing from any institution chartered or registered with New York’s Department of Financial Services," Rubin said. "And that’s not a long list."

She then linked to a way to search the list.

Rubin went on to make a clarification about her intentions in bringing it up.

"To be clear, I am not saying any federally-chartered bank, say, would or should loan to him," she wrote on Saturday. "But the formal restrictions are not what some folks thought they were."