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PoliticsJudge rejects Trump’s request to halt congressional subpoenas for his banking records

00:40  23 may  2019
00:40  23 may  2019 Source:   washingtonpost.com

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NEW YORK — A federal judge on Wednesday rejected a request by President Trump to block congressional subpoenas for his banking records , dealing another blow to the president in his bid to block Democratic investigations into his personal finances.

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Judge rejects Trump’s request to halt congressional subpoenas for his banking records© Provided by WP Company LLC d/b/a The Washington Post

NEW YORK —A federal judge on Wednesday rejected a request by President Trump to block congressional subpoenas for his banking records, dealing the latest blow to the president in his bid to battle Democratic investigations into his personal finances.

The decision in the U.S. District Court for the Southern District of New York could clear the way for Deutsche Bank and Capital One to hand over the president’s financial records to Democrats in the House. Trump’s attorneys could appeal the decision.

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A federal judge said Deutsche Bank and Capital One may hand over the president’ s financial records to Democrats in the House.

A federal judge said Deutsche Bank and Capital One may hand over the president’ s financial records to Democrats in the House.

Attorneys for Trump, his family and the Trump Organization filed for a preliminary injunction earlier this month as part of a lawsuit seeking to block the two institutions from handing over documents to the House Financial Services and Intelligence committees.

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“There will be no way to unring the bell once the Banks give Congress the requested information,” William S. Consovoy, Patrick Strawbridge and Marc Mukasey wrote. “The Committees will have reviewed confidential documents that this Court may later determine were illegally subpoenaed.”

But U.S. District Judge Edgardo Ramos said Wednesday that Trump’s lawsuit was unlikely to succeed.

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Trump loses court round on Democratic lawmakers' demand that banks provide his business records President Donald Trump, three of his children and the Trump Organization on Wednesday lost their bid to block Deutsche Bank AG and Capital One Financial Corp from providing financial records to Democratic lawmakers investigating Trump's businesses. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); U.S. District Judge Edgardo Ramos ruled at a court hearing in New York that Congress has the legal authority to demand the records, clearing the way for the banks to comply with subpoenas issued to them by two U.S.

A federal judge said Deutsche Bank and Capital One may hand over the president’ s financial records to Democrats in the House.

A federal judge said Deutsche Bank and Capital One may hand over the president’ s financial records to Democrats in the House.

Deutsche Bank and Capital One did not immediately respond to requests for comment.

The ruling comes two days after a federal judge in Washington rejected the Trump legal team’s argument in a separate case seeking to block the House Oversight Committee’s demands for records from Trump’s accounting firm, Mazars USA. Trump’s attorneys notified the judge on Tuesday that they have appealed “all aspects” of that ruling.

House Speaker Nancy Pelosi (D-Calif.) welcomed Wednesday’s ruling, saying she was “very excited” by the news.

“Two in one week: Mazar Monday, Deutsche Bank today,” she said.

Deutsche Bank has been a major lender to both the Trump Organization and Kushner Companies, which previously was run by Trump’s son-in-law, Jared Kushner, who now is a presidential adviser.

Deutsche Bank has loaned or been a co-lender of at least $2.5 billion to Trump’s business, much of it at a time when other banks declined providing money to him, according to a Wall Street Journal report. At one point, when Trump had trouble paying back a loan for a Chicago tower, Trump sued the bank, saying it had played a role in a broader financial crisis that hurt the project. Trump and the bank eventually settled the case.

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A federal judge said Deutsche Bank and Capital One may hand over the president’ s financial records to Democrats in the House.

Judge rejects Trump ' s request to halt congressional subpoenas for his banking records . Rao asked Letter, “Is there any historic example in which Congress has investigated a president, without a full vote of the House or Senate or a resolution? . . . Would you say this is unprecedented?”

Shortly before Election Day in 2016, Deutsche Bank finalized a $285 million loan to Kushner’s real estate company, The Washington Post has previously reported. At the time, the bank was negotiating settlements with federal and New York regulators. Congressional Democrats have long said they want to examine the bank’s loans to the Trump and Kushner businesses, particularly to see if there is any connection to money-laundering in Russia.

During Wednesday’s hearing, protesters holding signs stating “Congress has a right to know” and “You can sue but you can’t hide” were admonished by the judge after they stood up in the courtroom.

Strawbridge argued during the hearing that the committee subpoenas were overly broad and claimed that House Democrats were acting as law enforcement rather than legislators.

“They are looking for records about minors, about in-laws,” said Strawbridge, claiming that even information about Trump’s grandchildren could be swept up in the subpoenas.

An attorney for the House Democrats, Douglas Neal Letter, said the committees have issued “a whole batch of subpoenas . . . having nothing to do with Trump or his family.”

“This is not an investigation just about Trump and his family,” Letter said.

In his ruling from the bench, Ramos said he would not halt enforcement of the subpoena.

Ramos said his ruling rejecting a preliminary injunction was of “little consequence” because Trump and his family “are unlikely to succeed on merits of their claims.”

renae.merle@washpost.com

michael.kranish@washpost.com

felicia.sonmez@washpost.com

Kranish and Sonmez reported from Washington. Reis Thebault and Karoun Demirjian contributed to this report.

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