new YorkDeutsche Bank may issue financial documents from US President Donald Trump to Democrats in the US Congress. This was decided by a New York judge on Wednesday.
Trump and his children Donald Jr., Eric and Ivanka, and Trump's real estate company, The Trump Organization, filed a lawsuit against Deutsche Bank in a New York district court at the end of April. They wanted to prevent that information about Trump assets are passed. A lawsuit filed the presidential family against the US bank Capital One.
Specifically, the Trump clan wanted to prevent the Frankfurt bank from handing over documents to the US Congress. The US President and Deutsche Bank have a long business relationship. Over a period of twenty years, the financial house Trump is said to have granted loans in excess of two billion US dollars.
Thus, the bank has a key role for two congressional committees. Both the Finance and Intelligence Committees are interested in the President's finances and possible business relations with Russia. His former lawyer Michael Cohen had also accused Trump of inflating and shrinking his assets as needed to either get new loans or save taxes. The bank would continue to "pass appropriate information to all authorized investigations and follow the court order," said a spokeswoman.
The judge followed a similar decision to Trump's accountants. A Washington judge had ruled Monday that Mazar's documents on Trump's finances must be issued to the US Congress. The Democrats had demanded information over a period of eight years. The President also wanted to prevent this, arguing that the period was disproportionately long. The judge saw it differently.
Also in the fight against the publication of his tax returns Trump suffered on Wednesday a defeat. For example, the Washington Congress is likely to gain access to tax returns issued by the US President in New York State. The US Senate and House of Representatives passed a law on Wednesday to allow Trump's tax returns to be released. Governor Andrew Cuomo must sign but before.
The Democrats at the Federal Congress in Washington want to see Trump's personal and business tax returns from six years. The president refuses to surrender, and his treasury secretary Steven Mnuchin turns. However, many companies in Trump's empire have their headquarters in New York, which means they have to file tax returns there.
The New York Congress has now decided with the majority of Democrats in both chambers that certain US Congressional committees can review the tax returns of elected and appointed senior officials who have been cast in the state of New York.
That does not mean that Trump's tax returns are published. The inspection is reserved for members of the committee according to the Federal Law.
With agency material.
More: Deutsche Bank employees wanted to report suspicious Trump transactions to the Financial Regulator. But their leaders were clearly against it.
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