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Judge Says Deutsche Bank, Capital One Can Give Trump Financial Records To House Democrats

  • A federal judge in New York City on Wednesday said Deutsche Bank and Capitol One can turn over financial documents related to President Donald Trump and his businesses in response to subpoenas from House Democrats. Judge Says Deutsche Bank, Capital One Can Give Trump Financial Records To House Democrats
  • Judge Edgardo Ramos’s ruling came after a hearing at which lawyers for Trump, his three older children, and the Trump Organization argued that the subpoenas should be quashed.
  • His decision came two days after another federal judge, in Washington, D.C., said Trump’s accountants at the firm Mazars LLP had to comply with a congressional subpoena for his financial records.

 

A federal judge in New York City on Wednesday said Deutsche Bank and Capitol One can turn over financial documents related to President Donald Trump and his businesses in response to subpoenas from House Democrats.

Judge Edgardo Ramos’s ruling came after a hearing at which lawyers for Trump, his three older children, Donald Jr. Eric and Ivanka, and the Trump Organization argued that the subpoenas to the two banks should be quashed.

Ramos, an appointee of President Barack Obama, said that the Trump clan’s arguments “are not sufficiently serious as it relates to Supreme Court precedent” dealing with the question of turning over documents to Congress.

The judge also disagreed with the argument by the Trump legal team that the demand for the documents lacks a legitimate legislative purpose. Ramos said there is such a purpose.

His decision came two days after another federal judge, in Washington, D.C., said Trump’s accountants at the firm Mazars LLP had to comply with a congressional subpoena for his financial records.

Deutsche Bank for years has been the main lender for Trump, whom other banks have avoided loaning money to because of his repeated bankruptcies. Capital One is in possession of financial records related to the Trump Organization’s hotels. Neither bank had opposed the subpoenas.

But the Trump family’s lawyers, in a lawsuit filed in late April, challenged the demands for financial documents to the lenders, saying House Democrats “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.”

Trump has said he is “fighting all the subpoenas” issued by the Democratic-led House.

And Ramos’s ruling came hours after the New York State legislature passed two bills aimed at Trump, which would allow Trump’s state tax returns to be turned over to Congress if they are requested. Gov. Andrew Cuomo has said he supports that idea, but has yet to say whether he will sign the bills. 

The U.S. House Ways and Means Committee last week says the Treasury Department defy a subpoena for the federal tax returns of Trump and hs business, but much of the information on those returns would be replicated in state tax returns.

 

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