Trump to Square off in Court With House Democrats Over Financial Records

Tasos Katopodis/Reuters

U.S. President Donald Trump is expected to ask a federal judge on Friday to block Deutsche Bank AG and Capital One Financial Corp from handing the financial records of the Trump family and Trump Organization to Democratic lawmakers.

The case, before the 2nd U.S. Circuit Court of Appeals, is one of several legal battles between the Democrats, who took control of the U.S. House of Representatives in January, and the Republican president, who is seeking re-election next year.

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

In subpoenas issued in April, Democratic lawmakers asked the banks for records related to Trump, three of his children and the Trump Organization.

The subpoena on Deutsche Bank, issued by the House Financial Services Committee and the Intelligence Committee, seeks extensive records of accounts, transactions and investments linked to Trump, his three oldest children, their immediate family members and several Trump Organization entities, as well as records of ties they might have to foreign entities.

The subpoena on Capital One, issued by the Financial Services Committee, seeks records related to the Trump Organization’s hotel business. It followed an informal request to the bank by Democratic lawmakers in March seeking records related to potential conflicts of interest tied to Trump’s Washington hotel and other businesses.

Lawyers for the Trumps have argued that Congress does not have authority to demand the records.

U.S. District Judge Edgardo Ramos rejected that argument in May, clearing the way for the banks to hand over the documents. The subpoenas have been on hold while Trump appeals.

The subpoenas are only part of Democrats’ efforts to gather information about the president’s finances. In June, a group of Democrats in the Senate urged the Federal Reserve to investigate Deutsche Bank’s relationship with Trump and his son-in-law and adviser Jared Kushner.

Last month, an appellate court in Washington appeared likely to allow Trump’s accounting firm, Mazars LLP, to comply with a House Oversight Committee subpoena seeking records related to Trump’s businesses.

(Reporting By Brendan Pierson in New York; Editing by Noeleen Walder and Sonya Hepinstall)

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John
Guest
John

time for the Supreme Court to step in and say enough is enough to the Dems

Kay
Member

Other presidents who got impeachment threats did illegal things WHILE in office. Trumps business has absolutely nothing to do with how he is performing as president and the House has no jurisdiction or his past business especially since Mueller assured us that Trump is not Putins puppet.

Sherri
Member

If it goes to SCOTUS the dems will lose. They look like the idiots they are.

Cherl
Member

Why are they referred to as “Democratic lawmakers”? There is very little about them that is democratic. They are Democrats and way off the rails. Trump’s life and family was known to the world long before he even considered being president. And his business before then is of little interest to those who support him. After all the Clintons skated on Whitewater and Bill was Governor of Alabama!! The Clintons association with Epstein is proven but swept under the lumpy democrats’ huge rug. But not a word from the faux righteous democrat warriors.

Brad
Member

Oh what difference does it make……..what he has is what he has, what he’s done is what he’s done. Pocahontas on one hand speaks out with a policy to get rid of the legislation from 1994 Crime Law'(s), and cash bonds and the death penalty so we can have an influx of criminal activity and keeping those felons committing the crimes out of jail and free from jail, cash bail bonds and the death penalty. So in other words she insinuates that we need to turn our heads to criminals and allow them continual freedoms to carry out their criminal… Read more »

James
Member

The Socialists are still attempting to find “something” in Trump’s background in order to impeach him. While they dig into everything except the size and color of his underwear (to date), many questions still come up as to why the Kenyan was NEVER vetted. Everything about illegitimate #44 was either hidden from the public, covered up or lied about by the DNC and their enablers – the MSM – so America could “proudly put on display” its’ first (half) Black Oval Office chair warmer.

Keep America GREAT – Trump/Pence – 2020.

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