Trump Sues Banks to Keep Records Private

President, family say House Democrats are abusing their power
By Newser Editors,  Newser Staff
Posted Apr 30, 2019 5:49 AM CDT
Updated Apr 30, 2019 6:44 AM CDT
Trump Sues Banks to Keep Records Private
In this Jan. 11, 2017, photo, President-elect Trump, stands next to Allen Weisselberg, second from left, Donald Trump Jr., right, and Ivanka Trump.   (AP Photo/Evan Vucci)

President Trump's fight to keep his business records private is increasingly moving to the courts. On Monday, the president and his three oldest children sued two banks—Deutsche Bank and Capital One—to prevent them from turning over details of the Trump Organization to House Democrats, reports USA Today. "This case involves congressional subpoenas that have no legitimate or lawful purpose," the suit asserts. "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." It's all purely for political gain, says Trump's legal team. In response, House Financial Services Chair Maxine Waters and House Intelligence Chair Adam Schiff called the lawsuit "meritless" in a joint statement.

At least half a dozen House panels are investigating matters related to Trump's finances for possible corruption, particularly after Michael Cohen's testimony. Among other things, Democrats say they are investigating possible foreign influence in US politics, notes Politico. The New York Times reports that Deutsche Bank in particular has a huge amount of information on Trump, given that it has been handling his deals since the 1990s. The House panels are generally seeking records going back 10 years, but Trump lawyers complain that some requests are "unbounded," meaning they could go back to the childhoods of the president and his children. (This lawsuit comes a week after Trump sued to block his accountant from turning over records.)

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