President Trump and Deutsche Bank are back in the news.
(CNN)President Donald Trump, three of his children — Donald Jr., Eric and Ivanka — and his business are suing two banks to block them from turning over financial records to congressional committees that have issued subpoenas for the information.
It’s the second attempt in court that Trump has made this month to thwart the Democratic-led House of Representatives from investigating his financial history.
The legal action, filed in New York’s Southern District, is against Deutsche Bank, one of Trump’s lenders, and Capital One. Both banks “have long provided business and personal banking services to Plaintiffs,” Trump’s attorneys said.
“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. No grounds exist to establish any purpose other than a political one,” Trump’s attorneys wrote in the complaint filed late Monday.
On April 15, two U.S. House of Representatives committees issued subpoenas to multiple financial institutions for information on Trump’s finances. Both banks have been involved in Trump’s real estate empire.
The potential use of the U.S. financial system for illicit purposes is a very serious concern. The Financial Services Committee is exploring these matters, including as they may involve the president and his associates, as thoroughly as possible,” Waters, said in a statement earlier.
Schiff said previously in a statement the subpoenas issued included a “friendly subpoena to Deutsche Bank.”
Trump recently has said that he intends to defy any efforts from the Democrats to dig into his affairs.
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.