In a decision read from the bench after hearing arguments, U.S. District Judge Edgardo Ramos in New York said 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. House of Representatives committees last month.
Representative Brad Sherman, a Democratic member of the financial services committee, was more cautious, telling Reuters in an interview that he expected the decision would be appealed. Trump, who is seeking re-election next year, has aggressively sought to defy congressional oversight of his administration since Democrats took control of the House in January.Ramos said that the committees had the power to issue the subpoenas under Congress’ “broad” power to conduct investigations to further legislation.
Deutsche Bank has long been a principal lender for Trump’s real estate business and a 2017 disclosure form showed that Trump had at least $130 million of liabilities to the bank.The subpoena on Capital One seeks records related to multiple entities tied to the Trump Organization’s hotel business.
Patrick Strawbridge, a lawyer for Trump, said at Wednesday’s hearing that the subpoenas were “the epitome of an inquiry into private or personal matters,” and that the House committees were reaching beyond their role as legislators.
globebusiness So is Elijah Cummings and his wife going to hand over their tax returns I presume. Then Maxine Waters, Nancy Pelosi, Jerry Nadler and Joe Biden are going to hand over their returns. Dems want to open this door lets get at it.