Deutsche Bank and Capital One must comply with a House subpoena seeking a broad range of financial documents related toย President Trumpย and his businesses, a federal appeals court ruled on Tuesday.
A three-judge panel of the 2nd Circuit Court of Appeals on Monday ruled 2-1 in favor of ordering “prompt compliance” with the subpoenas from the House Financial Services and Intelligence committees.
“The public interest in vindicating the Committeesโ constitutional authority is clear and substantial,” the judges wrote in the decision.
“It is the interest of two congressional committees, functioning under the authority of a resolution of the House of Representatives authorizing the subpoenas at issue, to obtain information on enforcement of anti-money-laundering/counter-financing of terrorism laws, terrorist financing, the movement of illicit funds through the global financial system including the real estate market, the scope of the Russian governmentโs operations to influence the U.S. political process, and whether the Lead Plaintiff was vulnerable to foreign exploitation,” they continued.
The subpoenas are part of a congressional probe into the president’s dealings with Deutsche Bank, which is reportedly being investigated for its role in a $200 billion money-laundering scheme involving Russia.
The ruling is the latest blow to the president’s efforts to fight off congressional oversight of his business dealings and personal finances.
The 2nd Circuit and the D.C. Circuit have both ruled that Trump’s accounting firm must comply with separate subpoenas from the Manhattan district attorney and House investigators. The president has asked the Supreme Court to intervene in some of those cases.
Source: The Hill
