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House panels subpoena banks in Trump probe

Video Credit: Reuters Studio - Duration: 01:12s - Published < > Embed
House panels subpoena banks in Trump probe

House panels subpoena banks in Trump probe

Two U.S. House of Representatives committees have issued subpoenas to multiple financial institutions, including Deutsche Bank, for information on President Donald Trump’s finances, the panels’ Democratic leaders said on Monday.

Yahaira Jacquez reports.


House panels subpoena banks in Trump probe

While Democrats await the release of the redacted Mueller report on Thursday, they've already gotten the ball rolling on another inquiry into President Donald Trump's finances.

House Intelligence Committee Chair Adam Schiff and Financial Services Committee chair Maxine Waters said this week that their panels have issued subpoenas to Deutsche Bank and other financial institutions.

In a statement, Waters said, "The potential use of the U.S. financial system for illicit purposes is a very serious concern." (SOUNDBITE) (ENGLISH) MICHAEL COHEN SAYING: "I am ashamed because I know what Mr. Trump is." Democratic leaders have zeroed in on Deutsche Bank ever since the president's former personal attorney - Michael Cohen - said Trump provided the German bank with financial records that inflated his assets to secure loans for real estate projects.

Schiff has said he wants to know whether Trump's financial transactions left him susceptible to foreign influence.

On Monday, he said Deutsche Bank had been responsive, adding "We look forward to their continued cooperation and compliance."

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