NEW YORK (Reuters) – US President Donald Trump is expected to call on Friday a federal judge, Deutsche Bank AG ( DBKGn.DE ) and Capital One Financial Corp. ( COF.N ) of handing over the financial documents of the Trump family and the Trump organization to democratic legislators.
FILE PHOTO: US President Donald Trump returns to Washington on the southern lawn of the White House after traveling to the AMVETS Congress in Kentucky on August 21, 2019. REUTERS / Tasos Katopodis
The case before the 2nd The US Circuit Court of Appeals is one of several lawsuits between the Democrats who took control of the US House of Representatives in January and the Republican president next year seeks re-election.
Deutsche Bank has long been a principal lender to Trump's real estate business, and a 2017 reporting form showed that Trump had at least $ 130 million in bank debt.
In April summonses, the Democratic Legislature requested banks to keep records of Trump, three of his children, and the Trump organization.
The subpoena filed by the House Financial Services Committee and the Intelligence Committee against Deutsche Bank seeks comprehensive records of accounts, transactions and investments made with Trump, its three oldest children, immediate family members and several Trump Organization as in companies And records of links with foreign companies.
The summons to Capital One issued by the Financial Services Committee seeks to keep track of the hotel business of the Trump Organization. It followed an informal request by Democratic lawmakers to the bank in March to collect records of potential conflicts of interest with the hotel in Washington from Trump and other companies.
Trump lawyers have argued that Congress has no authority to demand the records.
US. District Judge Edgardo Ramos rejected this argument in May and cleared the way for the banks to hand over the documents. The subpoenas were suspended while Trump appealed.
The subpoenas are just part of the Democrats' efforts to gather information about the president's finances. In June, a group of Senate Democrats urged the Federal Reserve to investigate Deutsche Bank's relationship with Trump and his son-in-law and adviser Jared Kushner.
Last month, an Appeals Tribunal in Washington appeared to allow Trump's accounting firm, Mazars LLP, to comply with a subpoena from the House Oversight Committee, which sought to track Trump's affairs.
Reporting by Brendan Pierson in New York; Editing by Noeleen Walder and Sonya Hepinstall