Banks can hand Trump financial records to House Democrats, court rules
|reuters.com 03 Dec 2019 at 10:52|
FILE PHOTO: U.S. President Donald Trump holds a campaign rally in Sunrise, Florida, U.S., November 26, 2019. REUTERS/Yuri Gripas
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.
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.