Trump Sues to Stop Deutsche Bank From Disclosing Accounts
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President, children seek to keep bank records from Congress
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Accounts with Capital One also targeted by U.S. lawmakers
President Donald Trump sued to block Deutsche Bank AG and Capital One Financial Corp. from complying with congressional subpoenas targeting his bank records, escalating the president’s showdown with Democratic lawmakers investigating his finances.
The German lender has already begun the process of giving documents related to loans made to Trump or some of his businesses to the New York state attorney general, who is conducting her own probe, said a person familiar with the matter. The bank hasn’t yet handed over any client-related records to the House committees and will wait for the outcome of the legal proceedings, said the person, asking not to be identified in disclosing internal information.
Two House Democratic committee leaders slammed the lawsuit as “meritless” and said it was a bid to “obstruct Congress’s constitutional oversight authority.”
“This lawsuit is not designed to succeed; it is only designed to put off meaningful accountability as long as possible,” Financial Services Chairwoman Maxine Waters and Intelligence Chairman Adam Schiff said in a statement Tuesday. “Trump has already said publicly that he is fighting all of the subpoenas from Congress, and that he does not respect Congress’ role as a coequal branch of government. This unprecedented stonewalling will not work, and the American people deserve better.
Trump’s lawyers wrote in the introduction to the 13-page complaint filed Monday in Manhattan federal court, “The subpoenas were issued to harass President Donald J. Trump, to rummage through every aspect of his personal finances, his businesses, and the private information of the President and his family, and to ferret about for any material that might be used to cause him political damage.”
Donald Trump Jr., Ivanka Trump, and Eric Trump. Photographer: Jabin Botsford/The Washington Post via Getty Images
Joining Trump as plaintiffs were his eldest children, Donald Jr., Eric and Ivanka Trump, as well as the Trump Organization, the Donald J. Trump Revocable Trust and other entities affiliated with the president’s family.
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