Deutsche Bank AG confirmed that it is in possession of tax returns requested by congressional Democrats seeking financial records related to U.S. President Donald Trump, Reuters reported Aug. 28, citing a court filing.
The German lender was subpoenaed by two committees of the U.S. House of Representatives in April to release records of accounts, transactions and investments connected to Trump, three of his children, immediate family members and Trump's businesses, including records documenting possible links to foreign entities. Trump subsequently sued the bank in an attempt to prevent the release of the documents.
It was unclear whose tax returns the lender had as names were redacted from the public version of the court filing, the newswire noted.
Deutsche Bank also said it was in possession of tax returns for individuals who may constitute "immediate family" under the terms of the subpoenas.
A lawyer for the Trump family urged the 2nd U.S. Circuit Court of Appeals to block the subpoenas, arguing that Congress does not have the authority to demand for the records. The court has yet to rule on the case.
Meanwhile, Capital One Financial Corp., another bank with ties to Trump, disclosed in a separate filing that it did not possess any tax returns sought by the subpoena, according to the report.
