Democrats call for investigation to Trump and Deutscher Bank


DDemocrats in the US Senate have called on the Fed to review Deutsche Bank's relations with President Donald Trump and his son-in-law, Jared Kushner. The senior Democrat in the Senate Banking Committee, Sherrod Brown, and other senators wrote to the Fed on Thursday that after media reports of suspicious cash flows to Trump and Kushner companies, it had to "thoroughly" examine whether Deutsche Bank complied with US money laundering regulations.

The New York Times reported in May, citing current and former staff at the institute, that Deutsche Bank's US subsidiary had withheld internal reports of suspicious cash flows on accounts of Kushner and Trump companies.

According to the report, in the summer of 2016, a control software had discovered at Kushner's real estate accounts unusual transactions to Russia. The bank has decided not to forward the reports to the US Treasury Department. The bank denied the charge.

Presidential candidate Warren calls for stricter controls

In their letter, the senators of the opposition Democrats also referred to earlier violations of the law and fines of Deutsche Bank in the United States. The letter was also signed by Senator Elizabeth Warren, who is campaigning for the presidential candidacy of the Democrats and has long called for stricter control of the financial sector. A spokesman for the Fed said the central bank had received the letter and would reply. A representative of Deutsche Bank did not want to comment.

(TagToTranslate) Donald Trump (t) Jared Kushner (t) Elizabeth Warren (t) Sherrod Brown (t) Deutsche Bank (t) ISIN_DE0005140008 (t) New York Times


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