Deutsche Bank has loaned Donald Trump over $2 billion during the course of two decades, something most other financial institutions were not comfortable with doing. Democrats are investigating this, and the Financial Services and House Intelligence committees have issued a subpoena this week. The subpoena is asking the German bank for information pertaining to Trump and is asking for documents relating to “possible money-laundering by people in Russia and Eastern Europe.”

Financial Services’ Chairwoman Maxine Waters issued a statement discussing the committees’ joint venture into investigating the bank, expressing how “the potential use of the U.S. financial system for illicit purposes is a very serious concern.” They are “exploring these matters, including as they may involve the president and his associates, as thoroughly as possible pursuant to its oversight authority.” The investigation has reportedly been ongoing for months already, with the bank cooperating with Democrats and congressional investigators.


Trump Organization lawyer Alan Garten has commented how the organization was evaluating the options for how to prevent the bank from adhering to the subpoena. Eric Trump spoke out against the Democrats’ efforts in a statement, saying it’s “an unprecedented abuse of power and simply the latest attempt by House Democrats to attack the president and our family for political gain.” Moreover, he believes this act against his father will establish “a horrible precedent for all taxpayers.” The younger Trump also expressed his displeasure at the news on Twitter, accusing Democratic leaders of harassing his father out of an inability to properly do their jobs:

Subscribe to our free weekly newsletter!

A week of political news in your in-box.
We find the news you need to know, so you don't have to.

Read more about:

Get the free uPolitics mobile app for the latest political news and videos

iPhone Android

Leave a comment