Banks say they take no position in Trump lawsuit over congressional subpoenas

Deutsche Bank and Capital One said in letters filed in court on Tuesday that the banks do not want to take a position in the legal fight between President TrumpDonald John TrumpConway defends herself against Hatch Act allegations amid threat of subpoena How to defuse Gulf tensions and avoid war with Iran Trump says 'stubborn child' Fed 'blew it' by not cutting rates MORE and House Democrats seeking to obtain financial records from the banks.

Each bank made the assertion in separate letters, filed in response to a request from Trump’s lawyers seeking copies of the congressional subpoenas issued to the banks.

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Deutsche Bank wrote in a brief letter that the “underlying controversy” in the lawsuit — which initially targeted Deutsche Bank and Capital One — is between House Democrats and the president, his family and private businesses.

“As such, Deutsche Bank takes no position,” the letter states.

An attorney for Capital One said as much in a similar letter, writing that it “takes no position with respect to Plaintiffs’ request for an order” requiring the committees to hand over copies of the subpoenas.

Attorneys for the president have stated in previous filings that the banks and lawmakers have both declined to provide them with the actual subpoenas but that Deutsche Bank did give them a summary of the documents request.

The subpoenas, issued by House Financial Services Committee Chairwoman Maxine WatersMaxine Moore WatersOn The Money: S&P hits record as stocks rally on Fed cut hopes | Facebook's new cryptocurrency raises red flags for critics | Internal IRS watchdog rips agency's taxpayer service | Apple seeks tariff relief Facebook's new cryptocurrency raises red flags for critics Facebook's crypto experiment will languish on Capitol Hill MORE (D-Calif.) and House Intelligence Committee Chairman Adam SchiffAdam Bennett SchiffSchiff would support impeachment if White House ignores a final court decision on documents, testimony US finds itself isolated in Iran conflict House Intelligence Committee to subpoena Trump associate Felix Sater MORE (D-Calif.), seek years of financial records pertaining to Trump, his family and his businesses.

Trump's lawyers said in a previous court filing that the banks have agreed to not hand over any of the requested materials until a judge makes a ruling on whether to issue a preliminary injunction in the case. 

The president's attorneys on Friday formally requested that a judge issue a preliminary injunction in the case and signaled that they would appeal any ruling not in their favor.

Trump sued the banks late last month in an attempt to block them from handing over the financial documents to Congress. He also filed a lawsuit against House Oversight and Reform Committee Chairman Elijah CummingsElijah Eugene CummingsThis week: Congress set for clash on Trump's border request Supreme Court set to deliver ruling on census citizenship question House Oversight Committee to vote on authorizing subpoena for Kellyanne Conway MORE (D-Md.) to quash a subpoena he issued to the accounting firm Mazars for records pertaining to Trump.

Deutsche Bank Letter by on Scribd

 

 

Capital One Letter by on Scribd