Court of appeals orders banks to provide Trump's financial records | USA news


On Tuesday, an appeals court in the United States granted President Donald Trump another defeat in his attempt to keep his financial records secret, ordering Deutsche Bank AG and Capital One Financial Corp to comply with subpoenas from Congressional Democrats They demand the material.

A panel of three judges from the US Court of Appeals for the Second Circuit. UU. Manhattan-based rejected Trump's offer to prevent two House of Representatives committees from imposing subpoenas on the two banks seeking the documents. Trump had sued the two banks to prevent the disclosure of their financial records.


A Trump lawyer called the citation of financial records "invalid as issued," and said Trump can appeal the decision in the Supreme Court.

The subpoenas were issued months before House Democrats began an investigation in September about whether there was reason to accuse Trump of his request to Ukraine to investigate Democratic political rival Joe Biden and his son Hunter Biden.

In the subpoenas issued in April, the House of Representatives Financial Services Committee and the Intelligence Committee requested records related to Trump, three of his children and the Trump Organization from Deutsche Bank. Politicians have said the requests are part of a broader investigation into money laundering and foreign influence on US policy.

President Donald Trump during a meeting in the White House cabinet room in Washington (Susan Walsh / AP Photo)

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

In Tuesday’s decision, a 2-1 majority of the 2nd Circuit panel rejected Trump’s argument that Congress did not have a valid purpose for searching his records, and that enforcing the citations would compromise his and his family’s privacy . The panel said congressional investigations "substantially & # 39; unbalance & # 39; privacy interests invaded by the disclosure of financial documents."

Deutsche Bank has long been a leading lender for Trump's real estate business. A 2017 disclosure form showed that Trump had at least $ 130 million in obligations to the bank.

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

Trump has tried to keep his financial and fiscal records private. He broke with tradition by not publishing his tax returns as a candidate in 2016 and as president.

Deutsche Bank declined to comment. Capital One did not immediately respond to a request for comment.
In separate legal cases, Trump has tried to prevent House Democrats from obtaining their fiscal and financial records.

The Supreme Court, as soon as December 13, will decide whether to hear Trump's appeal of the lower court rulings he ordered to Mazars LLP, his long-term accounting firm, to provide local prosecutors in tax returns Trump personal and corporate offices from 2011 to 2018 as part of a criminal investigation.

Trump must also present Thursday his appeal of a court ruling in Washington, DC, which orders Mazars to turn over his financial records to the House Oversight Committee. Last week, the Supreme Court suspended the lower court ruling to give Trump time to appeal.

Reuters news agency