The lawsuit filed in the southern district of New York is directed against Deutsche Bank, one of Trump's lenders, and Capital One. Both banks "have long provided the plaintiffs with business and personal banking services," said Trump's lawyers.
"The subpoenas were issued to harass President Donald J. Trump, to sift through all aspects of his personal finances, his businesses, and the private information of the President and his family, and to look for material that may be significant." There was no reason to justify a purpose other than a political one, "wrote Trump's lawyers in the lawsuit filed Monday.
The lawsuit is the final salvo of the President to hold democratic control of his business and personal finances, and is in The legal strategy resembled the lawsuits filed last week against a public accounting firm and a chairman of the Congress.
But Monday's lawsuit had a small difference from last week's lawsuit, since neither the house itself nor house members are being sued another lawsuit in federal court in Washington against the economy Attorney Mazars USA and the House Oversight Committee are also trying to prevent the house from receiving Trump's financial records.
In this new case, Trump's team says it could not get access to details of the subpoenas through the house committees and instead learned about Deutsche Bank on April 1
Trump's attorneys say the chairmen of the US intelligence and financial services committees – Adam Schiff and Maxine Waters, both Californian Democrats – confirmed that two banks had received subpoenas from their committees about Trump's finances, but have refused to provide copies of the subpoenas.
The banks described the summons of Trump's lawyers under the lawsuit.
Following these discussions, Trump's attorneys claim that the committees requested all bank and financial records, "not just individual plaintiffs, but also their own family members," including children, and in some cases grandchildren, according to the lawsuit.
Trump's lawyers – Will Consovoy, Patrick Strawbridge, and Marc Mukasey – said the suit seeks to protect Trump, his family, and his business.
] "Subpoenas issued by the Presidents Schiff and Waters to Deutsche Bank and Capital One are unlawful and unlawful," the statement said. "They're looking for information that has come from decades of someone who even has a tangential connection to the president, including children, minors, and spouses, and every citizen should be concerned about this extensive, lawless invasion of privacy. the rights of our customers to confirm this matter. "
Deutsche Bank said in a statement that it would comply with all subpoenas and court orders.
"We remain obligated to provide all authorized investigations with adequate information and will comply with a court order regarding such investigations." The statement read.
Last week, CNN reported that the bank had agreed to a summons from New York Attorney General Letitia James for evidence of loans to Trump and his business. The bank is in the process of handing over documents, including emails and loan documents, to the Trump International Hotel in Washington, DC. the Trump National Doral Miami; the Trump International Hotel and the Tower in Chicago; and the unsuccessful effort to buy the Buffalo Bills of the NFL.
CNN turned to Capital One to comment.
In a statement, Waters and Schiff called the lawsuit "worthless."
"This lawsuit is not intended To be successful, it is only intended to detain meaningful accountability as long as possible," Waters and Schiff said. "Trump has already publicly stated that he is fighting all the congressional summons and that he does not respect the role of Congress as an equal government branch, and this unparalleled stonework will not work and the American people deserve better."  CNN reported that the committees issued joint subpoenas for the records earlier this month. Although the size of the subpoenas could not be fully determined, Deutsche Bank is to receive information on loans the bank has made to Trump and the Trump organization, a person familiar with the matter told CNN.
By refusing to provide copies of the summons to Trump's legal team, Democrat-led committees prevent the president and his team "from knowing or even negotiating the size or breadth of the subpoenas," the lawsuit says ,
The lawsuit arrives One week after Trump sued Elijah Cummings of the House Oversight and Government Reform Committee for summoning his board to an accounting firm, Trump's annual multi-year financial statements are well-prepared for his promise, democratic inquiry to aggressively fight or arrest his personal finances and business. Last week, the Treasury Department missed a deadline to hand over the President's tax return to the House Ways and Means Committee for six years.
Katelyn Polantz of CNN contributed to this report.