Awful enough, President Trump has lost his court case to stop Deutsche Banks AG and Capital One Final Corp from releasing his family’s financial records to Democratic lawmakers that are investigating his businesses.
U.S. District Judge Edgardo Ramos said Congress has the lawful authority to demand the records they are asking of the Trumps. The ruling has cleared the way for banks to comply with subpoenas which was issued to them by two U.S. House of Representatives committees last month.
Meanwhile, the committees agreed not to enforce the subpoenas for seven days, the judge revealed. This very one is the second time in three days that a judge is ruling against the president Donald Trump in his fight with Democrats and Trump’s legal team are considering appealing both rulings.
A statement from one of the banks spokespersons Kerrie McHugh said “We remain committed to providing appropriate information to all authorized investigations and will abide by a court order regarding such investigations,”
The U.S president Trump said last month that the administration was “fighting all the subpoenas” issued by the House, hardening his position after the release of a redacted report from Special Counsel Robert Mueller on how Russia interfered in the 2016 U.S. election to help Trump and on the president’s attempts to impede the investigation.
The subpoena on Capital One is asking for records related to multiple entities tied to the Trump Organization’s hotel business.
“So far, I think the president would be wise to come to the realization that our legitimate areas of inquiry are going to be supported by the courts,” Representative Dan Kildee, a Michigan Democrat and member of the House Ways and Means Committee, said to Reuters.