Long-time Trump Lender Deutsche Bank Faces Congressional Inquiry
The US Congress is looking into the Deutsche Bank, known for being US president Donald Trump's top lender, for charges of money laundering. The US counterpart of the bank has been accused of doing just that. Washington Post reported that the bank has received an 'inquiry' from no less than two congressional House committees.
Details as to the inquiry's timing and what it was all about weren't clear. What's known is that House Democrats have been searching for important documents. These documents hold the key to a large amount of cash in question. These millions are allegedly connected to Trump and Russia-an important part of the cases pending against him in relation to election tampering.
Deutsche Bank has confirmed the inquiry in a statement. No less than two House committees-Financial Services, led by Rep. Maxine Waters, and Intelligence, led by Rep. Adam B. Schiff-had sent notices of intent on doing an inquiry. Furthermore, the statement read that Deutsche Bank will definitely determine 'the best and most appropriate way' of giving information to the committees to clear any such involvement, regarding the US president.
Republican Rep. Patrick McHenry, for the other party's part, sent a letter to the Deutsche Bank CEO Christian Sewing. He said that the American public should be given due information and confidence that Deutsche Bank will comply with the authorities, according to Pymnts. Furthermore, he said that these vulnerabilities should be fixed and that the bank authorities should be the ones doing the fixing.
The bank, meanwhile, assured the public of their full cooperation. They reiterated that they 'remain committed' to providing information to any and all authorized investigation. The bank also cleared up any doubt, saying that they were currently working out solutions along with the Congress' Financial Services Committee and the Intelligence Committee on Oversight.
It is no secret that the House Democrats have been digging into the alleged connection between Trump and Russia. These investigations represented efforts on their part to uncover whether Trump and Russia colluded together in his win during the elections. It is also aimed towards any other such connections, such as in the case of White House special adviser Jared Kushner, Trump's son-in-law.
Rep. Waters has called Deutsche Bank a 'money laundering' bank-the biggest in the US, if not in the whole world. Her remarks were pointed toward the relationship between the US president and the bank.