Banks can hand Trump financial records to House Democrats, court rules




  • In US
  • 2019-12-03 15:25:56Z
  • By Reuters
President Donald Trump holds a campaign rally in Florida
President Donald Trump holds a campaign rally in Florida  

By Brendan Pierson

NEW YORK (Reuters) - Deutsche Bank AG <DBKGn.DE> and Capital One Financial Corp <COF.N> can hand over U.S. President Donald Trump's financial records to Democrats in the U.S. House of Representatives, a federal appeals court ruled on Tuesday.

The ruling from the 2nd U.S. Circuit Court of Appeals in New York marked a significant setback for the Republican businessman-turned-president in his efforts to shield his finances from scrutiny.

In subpoenas issued in April, the House Financial Services Committee and the Intelligence Committee asked Deutsche Bank for records related to Trump, three of his children and the Trump Organization. Lawmakers have said the requests are part of a wider probe into money laundering and foreign influence over U.S. politics.

They were made months before House Democrats began an inquiry in September into whether there were grounds to impeach Trump over his request to Ukraine to investigate Democratic political rival Joe Biden.

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

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

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


(Reporting By Brendan Pierson in New York; Editing by Chizu Nomiyama)

COMMENTS

More Related News

A top Trump health appointee reportedly tried to get taxpayers to reimburse her for $47,000 in jewelry that got stolen from a rented SUV
A top Trump health appointee reportedly tried to get taxpayers to reimburse her for $47,000 in jewelry that got stolen from a rented SUV

Seema Verma wrote in her claim that none of the jewelry was insured, and that the items were appraised by a jeweler several weeks after the theft.

North Korea conducts
North Korea conducts 'very important test': KCNA
  • World
  • 2019-12-08 01:43:47Z

North Korea has conducted a "very important test" at its Sohae satellite launch site, state media reported Sunday, as nuclear negotiations between Pyongyang and Washington remain deadlocked. "A very important test was carried out at the Sohae Satellite Launch Site on December 7th, 2019," a spokesman for the North's National Academy of Science said. The result of the latest test will have an "important effect" on changing the "strategic status" of North Korea, the spokesman said in a statement carried by the KCNA news agency.

Trump says the EPA is looking
Trump says the EPA is looking 'very strongly' at 'sinks and showers and other elements of bathrooms' because people are flushing their toilets 10 to 15 times

The New York Times reported in December 2017 that Trump "has an odd affinity for showing off bathrooms, including one he renovated near the Oval Office."

Saudi Arabia
Saudi Arabia 'greatly angered' by Pensacola Navy base shooting, Trump says

Trump received a call from King Salman of Saudi Arabia to express his condolences over the attack that left four dead. The suspect was a Saudi national.

4 dead in shooting incident at Pensacola naval base; suspect was Saudi national, officials say
4 dead in shooting incident at Pensacola naval base; suspect was Saudi national, officials say
  • US
  • 2019-12-06 20:51:00Z

Four people are dead including the suspect after an active shooting incident at a naval base in Pensacola, Florida, police said. The shooter was identified as Mohammed Alshamrani, a Saudi national and member of the country's air force who was in the U.S. for flight training, law enforcement officials familiar with the investigation told ABC News. Investigators are trying to determine whether the shooting was terror-related, the officials said.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US