President Trump, members of his family and the Trump Organization have filed a lawsuit against Deutsche Bank and Capital One to stop the banks from answering congressional subpoenas.
According to court documents filed in the U.S. District Court of the Southern District of New York on Monday, the subpoenas-part of an extensive House Judiciary Committee investigation into public corruption and obstruction of justice-the Trump family argues that such subpoenas are meant to "ferret about for any material that might be used to cause [the president] political damage" and that "no grounds exist to establish any purpose other than a political one."
New of of the suit was first reported by the New York Times.
"We filed this case to protect the privacy rights of the President, his family and their businesses," Trump's attorneys reportedly said in a statement on Monday. "The subpoenas issued to Deutsche Bank and Capital One by Chairpersons Schiff and Waters are unlawful and illegitimate. They seek information going back decades from anyone with even a tangential connection to the President, including children minors and spouses.
"Every citizen should be concerned about this sweeping, lawless, invasion of privacy." the statement continued We look forward to vindicating our clients' rights in this matter."
A Deutsche Bank spokeswoman told the Times "we remain committed to providing appropriate information to all authorized investigations and will abide by a court order regarding such investigations."
This story is developing.
Read more at The Daily Beast.