April 18, 2019
*-- House Democrats subpoena Deutsche Bank, other institutions in Trump probe --*
Two House committees jointly subpoenaed Deutsche Bank and other financial institutions as part of investigations into President Donald Trump's finances.
The House Intelligence and Financial Services committees jointly subpoenaed the records Monday to see the extent, if any, of foreign influence on the president, said House Intelligence Chairman Adam Schiff, D-Calif.
"As part of our oversight authority and authorized investigation into allegations of potential foreign influence on the U.S. political process, the House Intelligence Committee today issued subpoenas to multiple financial institutions in coordination with the House Financial Services Committee, including a friendly subpoena to Deutsche Bank, which has been cooperative with the committees," Schiff said in a statement, ABC News reported
House Financial Services Committee Chairwoman Maxine Waters, D-Calif., said in a separate statement that the committee takes potential manipulation of the U.S. financial system very seriously.
"The Financial Services Committee is exploring these matters, including as they may involve the president and his associates, as thoroughly as possible pursuant to its oversight authority, and will follow the facts wherever they may lead," she said.
The subpoenas are the latest move by congressional Democrats trying to obtain Trump's financial records that include making legal requests for his tax returns in order to see if Russia has financial influence over him.
Shortly after the subpoenas were announced, Eric Trump, the president's son, lashed out, saying that the move sets a "horrible precedent" and is an "abuse of power" to attack the president and his family.
"Instead of legislating, the committee is obsessed with harassing and undermining my father's administration, doing everything they can to distract from his incredible accomplishments," Eric Trump said in a statement. "This incompetence is the exact reason why the American people have such disdain for politicians and why my father was elected."
Earlier Tuesday, President Trump was on the offensive, with his lawyers warning accounting firm Mazars USA of legal action if it complied with a subpoena issued Monday by Oversight Chairman Elijah Cummings, D-Md., for his financial records, Politico reported.
Deutsche Bank, which Democrats have targeted for its lengthy and substantial relationship with Trump, said it is responsive to the two committees.
"We remain committed to providing appropriate information to all authorized investigations in a manner consistent with our legal obligations," Deutsche Bank spokeswoman Kerrie McHugh said in a statement. "If you have questions concerning the investigative activities of the committees, we would refer you to the committees themselves."
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