Banks Can Hand Trump Financial Records to House Democrats, Court Rules

Yuri Gripas/Reuters

Deutsche Bank AG <DBKGn.DE> and Capital One Financial Corp <COF.N> can hand over U.S. President Donald Trump’s financial records to Democrats in the U.S. House of Representatives, a federal appeals court ruled on Tuesday.

The ruling from the 2nd U.S. Circuit Court of Appeals in New York marked a significant setback for the Republican businessman-turned-president in his efforts to shield his finances from scrutiny.

In subpoenas issued in April, the House Financial Services Committee and the Intelligence Committee asked Deutsche Bank for records related to Trump, three of his children and the Trump Organization. Lawmakers have said the requests are part of a wider probe into money laundering and foreign influence over U.S. politics.

They were made months before House Democrats began an inquiry in September into whether there were grounds to impeach Trump over his request to Ukraine to investigate Democratic political rival Joe Biden.

Deutsche Bank has long been a principal lender for Trump’s real estate business. A 2017 disclosure form showed that Trump had at least $130 million of liabilities to the bank.

Congressional investigators have already identified possible failures in Deutsche Bank’s money laundering controls in its dealings with Russian oligarchs, people familiar with the matter have told Reuters.

The Financial Services Committee also subpoenaed Capital One in April, seeking records related to the Trump Organization’s hotel business.

(Reporting By Brendan Pierson in New York; Editing by Chizu Nomiyama)

What do you think?

-15 pledges
Upvote Downvote

Comments

6
Leave a Reply

avatar
  Subscribe  
newest oldest most voted
Notify of
Sherri
Member

Well, here comes the SCOTUS. Dems are messing up because if this holds every dem will have a flashlight up you know where in the future. GOP will pay them back. This garbage is unhinged…..actually, past unhinged.

John Straub
Guest
John Straub

Bet the judges were all appointed by Democrats.

Peter
Member

Democrats are so stupid. They have pushed for a ruling, they think is a winner for them, but is in fact going to bite them in the back side hard! If the President of the United States financial records can be seized and examined by anyone with a political axe to grind, so can every member of Congress and the Senate! That means Maxine Waters, Adam Schiff, Nancy Pelosi, Chuck Schumer, and the list goes on and on of blatantly corrupt politicians, who have made millions while in office. Every one of them will now have NO legal standing to… Read more »

Bob
Member

Supreme court here we come.

Loading…

0

Comments

0 comments

Trump Praises Londoners Who Intervened in London Bridge Attack

‘Everyone Knows I’m Close With Him’: Biden Claims He Doesn’t Need Obama’s Endorsement