Congress asks Deutsche Bank for Trump records
Congressional Democrats on the House Financial Services Committee are asking Deutsche Bank (NYSE:DB) to release information it may have on President Trump’s financial accounts and any evidence that may show ties to Russia.
In a letter sent on Tuesday by five House Democrats to Deutsche Bank CEO John Cryan, lawmakers called for information relating to two internal bank reviews. One of which is looking into the 2011 Russian mirror scandal, which the bank has already agreed to pay $628 million in fines after regulators determined the bank helped to covertly move $10 billion out of Russia through a process known as “mirror trading”. The other is to review the personal accounts of Trump and his family members held at the bank.
“Congress remains in the dark on whether loans Deutsche Bank made to President Trump were guaranteed by the Russian Government, or were in any way connected to Russia,” the letter to the bank said.
"Only with full disclosure can the American public determine the extent of the President's financial ties to Russia and any impact such ties may have on his policy decisions," the committee said in the letter, which was signed by Rep. Maxine Waters (D-CA), Rep. Daniel Kildee (D-MI), Rep. Gwen Moore (D-WI), Rep. Al Green (D-LA) and Rep. Ed Perlmutter (D-CO).
The letter was delivered on the same day FOX Business reported Trump hired attorney Marc Kasowitz to represent him on the investigation headed by recently-appointed special counsel Robert Mueller, into claims that there was collusion between the Trump campaign and Russian operatives during the 2016 election season.
Trump has denied any collusion with Russia and recently went as far to call it a “witch hunt.”
Deutsche Bank declined a request by FOX Business to comment on the letter. Shares fell in mid-day trading while the broader market rose.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DB | DEUTSCHE BANK AG | 16.73 | +0.33 | +2.01% |
While the Democrats may be digging for evidence on whether Trump has any financial ties to Russia, Deutsche Bank does not have to comply with their request because they are the minority in the House.