Trump loses appeal to block financial records from House
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Trump loses appeal to block financial records from House 02:29
(CNN)House Democrats have narrowed subpoenas from two committees for financial documents related to President Donald Trump and the Trump Organization, less than two months after the Supreme Court ruled the House can seek the records but sent the case back to the lower courts.
The House Intelligence Committee said Wednesday that it was narrowing the scope of its subpoena of Deutsche Bank for financial records related to Trump and his family members. The House Financial Services Committee, whose subpoenas were also part of this lawsuit related to the President’s records, is dropping its subpoena of Capital One Bank and narrowing its subpoena of Deutsche Bank even further.The House and Trump’s legal team told the 2nd Circuit Court of Appeals on Wednesday how they believed the Supreme Court case affected the subpoenas, which Trump has sued to block.
The court had suggested the parties consider negotiating “in an effort to narrow the scope of the subpoenas,” because of the Supreme Court’s acknowledgment that standoffs between the executive branch and Congress have been resolved through negotiations for 250 years.The Financial Services panel says it now seeks from Deutsche Bank “only records that do not constitute the President’s information,” such as “internal Deutsche Bank analyses and documents concerning the accounts of the President’s adult children.”Read MoreThe committee said it believes these changes should avoid further litigation. The Trump family’s lawyers in the case say they still object to the narrower subpoena, according to the House’s filing.”The Committees have thus gone well beyond what is required under Mazars (the Supreme Court’s decision) by limiting their subpoenas to records that are absolutely necessary to their urgent investigations,” the House told the court. “The passage of time has only heightened the Committees’ need for these documents to inform pressing legislative concerns, which include potential counterintelligence risks arising from President Trump’s foreign financial ties, foreign interference in the U.S. political process, the safety of bank lending practices, and the threat of money laundering.”Deutsche Bank said on Wednesday it was not taking a position on what the court should do. Capital One, which also was subpoenaed by the House for financial records involving Trump, also said it wasn’t taking a position. In a memo to House Intelligence Committee members, Chairman Adam Schiff wrote that the committee was narrowing its subpoena by limiting the accounts covered to Trump family members and the Trump Organization, limiting the time frame the subpoena covered from 2015 instead of 2010 and limiting the requested account statements.
“Although not required by the Supreme Court’s opinion, the Committee will voluntarily narrow its subpoena to those records that are absolutely necessary to satisfy the Committee’s investigative needs and to fulfill the Committee’s legitimate oversight and legislative objectives,” the California Democrat wrote.This story has been updated with additional developments Wednesday.