Waters defends planned probe of Trump finances after GOP backlash

Rep. Maxine WatersMaxine Moore WatersHillicon Valley: Trump seeks review of Pentagon cloud-computing contract | FTC weighs updating kids' internet privacy rules | Schumer calls for FaceApp probe | Report says states need more money to secure elections Here are the 95 Democrats who voted to support impeachment Maxine Waters says her committee will call in Zuckerberg to testify about Libra MORE (D-Calif.) defended plans from House Democrats to investigate President TrumpDonald John TrumpUS-Saudi Arabia policy needs a dose of 'realpolitik' Trump talks to Swedish leader about rapper A$AP Rocky, offers to vouch for his bail Matt Gaetz ahead of Mueller hearing: 'We are going to reelect the president' MORE’s personal finances as Republicans warn of steep consequences if they move forward.

Waters is in line to chair the House Financial Services Committee in 2019, giving her oversight of banks and subpoena power to conduct investigations relevant to the panel’s mandate.

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She told The Hill in a phone interview Thursday night that a planned probe of the president’s relationship with Deutsche Bank should be considered “ordinary” oversight work for the panel.

“Deutsche Bank is key to understanding the relationship between the president and members of the president’s family and money laundering and all of that,” Waters said. “We hope that we can move forward in a responsible way.”

Waters has pledged to ramp up Democratic efforts to probe Trump and his family's relationship with Deutsche Bank, which has been penalized by the Justice Department for laundering money from Russia.

Financial Services panel Democrats spent the past two years requesting documents from the Treasury Department and Deutsche Bank that could reveal Trump’s potential ties to Russian nationals.

Treasury and Deutsche Bank have refused to comply with the Democratic requests, but could be forced to hand over Trump’s personal financial records if Waters subpoenas for the documents.

Trump and fellow Republicans, have blasted Waters for eyeing the president’s finances.

Trump said Wednesday that he would not work with Democrats on bipartisan goals like infrastructure funding if they subpoenaed his financial records — including his tax returns — and would ask the GOP-held Senate to investigate the opposition party.

Rep. Patrick McHenryPatrick Timothy McHenryHillicon Valley: Trump seeks review of Pentagon cloud-computing contract | FTC weighs updating kids' internet privacy rules | Schumer calls for FaceApp probe | Report says states need more money to secure elections Maxine Waters says her committee will call in Zuckerberg to testify about Libra House asks Facebook: 'What is Libra?' MORE (R-N.C.), who’s poised to lead Republicans on the Financial Services panel, also warned Waters on Thursday that he’d fight Democratic efforts to use the committee “as the launch pad for endless, partisan investigations.”

Waters countered that the planned probes should be seen as basic committee oversight.

“We don’t want that determined as investigation so that we create the kind of retaliation the president is talking about,” Waters said. “We think it is improper for anybody to be talking about retaliation.”

While Waters will face fierce opposition from Republicans in investigating Trump, she said she’s hopeful for bipartisan collaboration on housing finance reform and a national flood insurance revamp.

Waters will need to cut deals with key Republicans, like McHenry, and her eventual counterpart on the Senate Banking Committee, Sen. Mike CrapoMichael (Mike) Dean CrapoOvernight Health Care — Presented by PCMA — Sanders mounts staunch defense of 'Medicare for All' | Biden, Sanders fight over health care heats up | House votes to repeal ObamaCare 'Cadillac Tax' | Dems want details on fetal tissue research ban Hillicon Valley: Senators unload on Facebook cryptocurrency plan | Trump vows to 'take a look' at Google's ties to China | Google denies working with China's military | Tech execs on defensive at antitrust hearing | Bill would bar business with Huawei Senators unload on Facebook cryptocurrency at hearing MORE (R-Idaho), the current chairman, or Sen. Pat ToomeyPatrick (Pat) Joseph ToomeyNSA improperly collected US phone records in October, new documents show Overnight Defense: Pick for South Korean envoy splits with Trump on nuclear threat | McCain blasts move to suspend Korean military exercises | White House defends Trump salute of North Korean general WH backpedals on Trump's 'due process' remark on guns MORE (Pa.), who would likely take the Banking gavel if Crapo seeks the Senate Finance Committee chairmanship.

Waters said she has a “very good relationship with Congressman McHenry,” citing their work on a package of three-dozen bipartisan business investment bills.

“I know we won’t agree on everything and I don’t know all that he’s going to propose, but I know one thing: we start out in a good relationship and ability to communicate,” Waters said.

Waters added that it’s unclear how the House and Senate will collaborate on housing finance reform, as it’s a clear bipartisan and bicameral priority.

“We don’t know how we work with the Senate quite yet, but it’s on their minds and it’s on our minds,” Waters said.