The financial data of President Donald Trump of Wells Fargo and TD Bank has been transferred to House Democrats.
According to Fox news, the documents are now in the hands of the House Financial Services Committee led by Maxine Waters.
Wells Fargo and TD Bank are two of the nine banks with which Democrats seek cooperation.
Lawyers for the House Financial Services and Intelligence committees say they need access to bank documents to identify potential foreign influence in the American political process. and to investigate possible money laundering from abroad.
On Wednesday, President, Donald Jr., Eric and Ivanka and the Trump Organization lost their bid to block Deutsche Bank AG and Capital One Financial Corp from providing financial information to Democratic lawmakers investigating Trump's companies.
The financial data of President Donald Trump of Wells Fargo and TD Bank has been transferred to House Democrats
The documents are now in the hands of the House Financial Services Committee led by Maxine Waters. Representative waters said earlier that they and other democrats will fight him & # 39;
In a court ruling after hearing arguments, US District Judge Edgardo Ramos said in New York that Congress has the legal authority to demand the archives so that the banks can comply with injunctions imposed on them by two US commissions House of Representatives last month.
The committees have agreed not to carry out the summons for seven days, according to the judge.
It was the second time in three days that a judge in his fight against the Democrats had condemned the Republican president and Trump's lawyers were expected to challenge both decisions.
Ramos said he would not suspend his decision pending appeal.
Some democratic legislators welcomed the decision.
& # 39; So far I think it would be wise for the President to realize that our legitimate areas of investigation are supported by the courts & # 39 ;, said Deputy Dan Kildee, a Democrat from Michigan and a member of the House Ways and Resources Committee. Reuters in an interview.
Representative Brad Sherman, a democratic member of the Financial Services Committee, was more cautious and said he expected the decision to be appealed.
When asked if legislators should be satisfied that they get the information they are looking for, Sherman said, "I will believe it when I see it in the US Supreme Court."
The White House did not immediately respond to requests for comment.
Deutsche Bank said it would abide by the court's decision. Capital One did not respond immediately to a request for comment.
Trump, who is seeking re-election next year, has aggressively tried to defy Congress's policy against his government since the Democrats took over the House in January.
Ramos said the committees had the power to issue subpoenas under the "broad" power of Congress to investigate further legislation.
On Wednesday, the president, Ivanka (photo) and the Trump Organization lost their bid to prevent Deutsche Bank AG and Capital One Financial Corp from providing financial reports to democratic lawmakers investigating Trump & # 39; s companies
Donald Jr and Eric also lost their bid to prevent the banks from providing their financial data to the Democrats
He also rejected Trump's argument that they were excluded from a federal law on financial privacy, the right to financial privacy legislation, because the law does not apply to congressional investigations.
Trump said last month that the board combats & # 39; all subpoenas & # 39; issued by the House, hardening its position after the publication of an edited report by Special Counsel Robert Mueller on how Russia interfered with the 2016 US elections to help Trump and the president attempt to hinder the investigation.
& # 39; We remain committed to providing the correct information to all authorized investigations and abide by a court order regarding such investigations, & # 39; Deutsche Bank spokeswoman Kerrie McHugh said in an e-mail statement after the ruling.
Lawyers for the family members of the Trump and the Trump Organization refused to comment on the decision.
Some parts of the subpoenas are included in the court files. The subpoena at Deutsche Bank looks for comprehensive information about Trump accounts, transactions and investments, his three eldest children, their close relatives and various entities of the Trump organization, as well as notes of links they may have with foreign entities.
Deutsche Bank has long been a major financier for Trump's real estate sector and a 2017 disclosure form showed that Trump had at least $ 130 million in debt to the bank.
The subpoena on Capital One searches for data relating to several entities that are connected to the hotel activities of the Trump Organization.
In March, before their summons was made, Democratic lawmakers asked Capital One for documents regarding possible conflicts of interest associated with the Washington hotel and other business interests since becoming President in January 2017.
The subpoena on Capital One searches for data relating to several entities that are connected to the hotel activities of the Trump Organization
Trump, his adult children, Donald Jr., Eric and Ivanka, and the Trump Organization had issued a provisional order to prevent Deutsche Bank from complying with the summons of the House Financial Services Committee and the House Intelligence Committee, and Capital One of complying to a summons from the Financial Services Committee.
In a lawsuit filed on April 29, Trumps lawyers argued that the subpoenas were too broad and that the Democrats hoped that they would & # 39; stumble somewhere & # 39; that could be used for political attacks on the president.
Patrick Strawbridge, a Trump lawyer, said at the Wednesday hearing that the summons & # 39; the summit of an investigation into personal or private matters & # 39; and that the house committees exceeded their role as legislators.
Douglas Letter, a lawyer for the commissions, said the subpoenas are part of a & # 39; very serious investigation on behalf of the American people & # 39; that could lead to legislation aimed at reducing foreign influence in American politics. He denied that it was intended to touch Trump personally.
& # 39; He clearly sees us as a kind of nuisance, & # 39; said the letter.
The banks are the only defendants in the case, but the parliamentary committees intervened to oppose Trump's attempt to block the summons.
Representative Maxine Waters told reporters after the trial was filed that Trump & # 39; had thrown a glove & # 39 ;.
& # 39; We will fight him, & # 39; she said.
On Monday, a federal judge in Washington ruled in a similar case against the president. According to him, Trump's accounting firm, Mazars LLP, must comply with a summons from the Trump Financial Data Congress.
US district judge Amit Mehta discovered that Congress & # 39; was not engaged in a fishing expedition & # 39; for the president's financial administration when it sued Mazars and said that documents obtained could help Congress to pass laws and perform other core functions.
Trump called Mehta & # 39; s decision & # 39; crazy & # 39; and vowed to appeal.
On Wednesday, the House Committee, which was involved in that case, said the House Oversight Committee in a statement that it had reached an agreement with Trump's lawyers to obtain summary proceedings.
. (TagsToTranslate) Dailymail (t) news (t) donald-trump