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U.S. court rules banks must hand over Trump financial records

A U.S. federal appeal court ruled on Wednesday that Deutsche Bank and Capital One must comply with House subpoena, which has demanded U.S. President Donald Trump’s financial records.

The Second Circuit Court of Appeal in New York, in a two-to-one ruling, was in favour of ordering prompt compliance with the subpoena from the House Financial Services and Intelligence committees.

The subpoena is part of a congressional probe into the president’s dealings with Deutsche Bank, which is reportedly under investigation for its role in a money-laundering scheme.

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The Second Circuit and the D.C. Circuit have both ruled that Trump’s accounting firm must comply with separate subpoenas from the Manhattan district attorney and House investigators.

The president has asked the Supreme Court to intervene in some of those cases.

Jay Sekulow, Trump’s personal attorney, tweeted: “we believe the subpoena is invalid as issued.

“In light of the Second Circuit decision, we are evaluating our next options including seeking review at the Supreme Court of the United States.’’

In November, the Supreme Court ordered a temporary stay, meaning Trump’s financial records could remain outside the hands of investigators.

U.S. media earlier reported that Deutsche Bank has lent Trump’s businesses millions of dollars in the past years and Capital One is among the banks where Trump holds personal accounts. (NAN)