A Federal Judge on Wednesday Allowed the House to move ahead with Subpoenas seeking years of President Trump’s Financial Records from Deutsche Bank and Capital One, dealing the Second Blow in a matter of days to Trump's Legal Strategy of Stonewalling Democrats’ Mounting Investigations.
U.S. District Court Judge Edgardo Ramos Rejected a Request by Trump and his Family to Block the Subpoenas issued by Democrats on the House Financial Services and Intelligence Committees. The Subpoenas seek Documents including Tax Returns, Evidence of Suspicious Activity and, in the Case of Deutsche Bank, any Internal Communications regarding Trump and his Ties to Foreign Individuals.
The Ruling by Ramos, an Obama Appointee, followed a Landmark Decision by a different Federal Judge on Monday who said the House Oversight Committee could Proceed with a Subpoena of Trump Records held by Accounting firm Mazars USA. Trump is Appealing that Ruling.
The latest Court Decision comes as House Speaker Nancy Pelosi tries to Quell a growing push within her Caucus to launch Impeachment Proceedings against Trump.
Pelosi has made the Case that moving forward with Impeachment without Republican Backing could Hurt Democrats and that they should plow ahead with Investigations in the meantime.
House Financial Services Chairwoman Maxine Waters (D-CA, 43rd District), who Issued the Deutsche Bank Subpoena, is one of the most Vocal Advocates for Impeaching Trump.
Trump and his Children Sued Deutsche Bank and Capital One last month to Block the House Subpoenas, which Trump’s Legal Team described as too broad, lacking a Legitimate Legislative Purpose and Primarily designed to Cause the President Political Damage.
Pelosi says Trump 'engaged in a cover-up' as she urges against Impeachment.
"After two years of an expensive and comprehensive Witch Hunt, the Democrats don’t like the result and they want a DO OVER,” Trump said on Twitter Wednesday morning, referring to Special Counsel Robert Mueller’s Investigation. "In other words, the Witch Hunt continues!”
The House Financial Services and Intelligence Committees Intervened in Trump’s attempt to Block the Subpoenas.
House Lawyers argued in Court that the Committees had broad Authority to Proceed with their Probes and that the Findings would help Inform Legislation to bolster Anti-Money Laundering Rules and Safeguard the U.S. Political Process. They asked the Court to Dismiss Trump's Lawsuit.
Deutsche Bank and Capital One tried to stay Neutral as the Case played out.
Deutsche Bank has been a Target for Democrats since the earliest days of Trump’s Presidency. The German Bank lent Trump Hundreds of Millions of Dollars over the years for Property Development and has faced Scrutiny for its Role in Russian Money Laundering.
Democrats have questioned why the Bank was willing to Lend to Trump when other Banks weren’t and whether it served as a Conduit for Russian Influence over the President.
Allegations in a recent New York Times story that Deutsche Bank quashed Reports of potential Suspicious Activity tied to Trump and Son-in-Law Jared Kushner attracted even more Scrutiny to the Lender.
Senate Democrats in a Hearing on Tuesday hammered a Top Treasury Department Official over the Story, urging him to take Action.
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