Trump Family Files Lawsuits To Block Subpoena Response In Ongoing Financial Probe

Trump Finance Probe
U.S. President Donald Trump applauds during an event (Photo: Reuters)

In an attempt to block a formal response to subpoenas issued by the US Congress, Trump and his family have now launched a series of lawsuits against Deutsche Bank AG and Capital One Financial Corp. President Donald Trump, along with his adult children, Donald Jr., Eric and Ivanka, and the Trump Organization have all filed suits against both banks to prevent them from releasing financial records to the requesting agencies.

The ongoing attempt by the Democratic-led House of Representatives to unearth the Trump family's financial records has led to the series of lawsuits, which were filed earlier in the week. The move was also likely a necessary one for Trump following the conclusion of the inquiry on Special Counsel Robert Mueller over Russia's role in the previously held United States presidential elections.

Both Deutsche Bank and Capital One had previously indicated that they would be responding to the subpoenas issued to them if no one was going to intervene. The banks were scheduled to submit their official response on May 6. Deutsche Bank is currently known to be the main financial institution used by Trump's various businesses, including his billion-dollar real estate empire. Democratic lawmakers have long tried to persuade the bank to release Trump's records through legal pressure.

In the lawsuits filed by Trump and his family, the complainants accused the Democratic leaders of trying to unearth their financial records with no legitimate and lawful purpose.

The filing further stated that the probe into their records was merely an attempt to find "something," which could be used as a weapon in the upcoming elections. Trump's lawyers also recently stated that the issued subpoenas to Trump's banks were nothing more than a harassment attempt against the president's family.

Apart from Deutsche Bank and Capital One, the House Financial Services Committee and the House Intelligence Committee have issued various subpoenas to multiple banks seeking to acquire information on Trump's transactions. The president's lawsuits however only mention Deutsche Bank and Capital One.

Representative Maxine Waters recently issued a statement to the press in response to the lawsuits. Waters stated that the president is obstructing justice and is clearly willing to do anything to shut down the investigation against him. The chair of the House Financial Services Committee further stated that they will continue to fight and will not give up on the investigation.

Deutsche Bank responded to the recent actions and stated that it will abide by any court order that is issued pertaining to the investigation. Meanwhile, Capital One has remained silent on the issue.

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