MSNBC's O'Donnell backs away from Trump-Russia report

MSNBC host Lawrence O'DonnellLawrence O'DonnellPorter on melee at town hall: 'Hard to feel safe' Biden: McCarthy's support of Cheney ouster is 'above my paygrade' On The Money: Inflation jumps at fastest pace since 2008 | Biden 'encouraged' on bipartisan infrastructure deal MORE on Wednesday backed away from his previous night's reporting on alleged financial ties between President TrumpDonald TrumpMyPillow CEO to pull ads from Fox News Haaland, Native American leaders press for Indigenous land protections Simone Biles, Vince Lombardi and the courage to walk away MORE and Russian oligarchs, saying he had made "an error in judgment" and that he had been wrong to report the story.

"Last night I made an error in judgment by reporting an item about the president’s finances that didn’t go through our rigorous verification and standards process," O'Donnell tweeted. "I shouldn’t have reported it and I was wrong to discuss it on the air. I will address the issue on my show tonight."

His statement comes after an attorney for Trump demanded MSNBC retract the report, which alleged that the president had taken out loans from Deutsche Bank with Russian oligarchs as co-signers.