Published: Sun, May 26, 2019
Global News | By Blake Casey

Court: Deutsche Bank may release files on Donald Trump

Court: Deutsche Bank may release files on Donald Trump

The judge then noted that both sides had agreed that the subpoenas would not require a response for another week, giving Trump, his family and his companies time to appeal.

A federal judge in NY on Wednesday ruled Deutsche Bank and Capital One can comply with subpoena requests made by congressional Democrats to turn over President Trump's financial and business records, despite objections from the Trump family.

Lawyers for Deutsche Bank and Capital One registered letters in court saying that they will not take a position in Trump's lawsuit trying to block them from responding to Congressional subpoenas.

After Ramos issued his ruling, Trump's lawyers asked for a stay to delay its implementation.

Trump's legal team plans to appeal, a person familiar with the case said Monday.

The filing in U.S. District Court for the Southern District of NY followed an appeal submitted on Friday by Trump and his affiliates against an existing order from a federal judge allowing the banks to hand over financial records to Democratic lawmakers.

He also brushed aside the argument made by Trump's lawyers that the demand for the documents lacks a legitimate legislative goal.

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FILE - In this May 16, 2019, file photo, President Donald Trump speaks in the Rose Garden of the White House in Washington.

The lawyers said the House's Committee on Financial Services and Permanent Select Committee on Intelligence sought the information as they investigate "serious and urgent questions concerning the safety of banking practices, money laundering in the financial sector, foreign influence in the US political process, and the threat of foreign financial leverage, including over the president, his family and his business".

A spokesperson for Deutsche Bank said the company would "abide by a court order" regarding the investigation. Deutsche has likely already paid for whatever crimes might be revealed in these documents (it's paid for so much), but Trump and his family might be unhappy to have Congress learn that they have never properly valued an asset ever.

If the president's lawyers lose on appeal at the D.C. Circuit, experts watching the legal battle expect an immediate request to the Supreme Court to stop the release of the material.

The subpoena on Capital One, issued by the Financial Services Committee, seeks records related to the Trump Organization's hotel business.

The hearing occurs after congressional Democrats sought the information from Deutsche Bank and Capital One.

The president had already lost a similar case in a federal court in Washington this week, when a judge found that Trump could not block a Congress subpoena for information from a financial services firm that had done some accounting for him. The agreement comes days after a federal judge rejected efforts by Mr. Trump, his children and the Trump Organization to block these subpoenas.

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