Attorneys for President Trump have reached an agreement with the House Intelligence & Financial Services Committees to halt the enforcement of subpoenas for Trump's financial records from Deutsche Bank and Capital One, according to CNN's Cristina Alesci.
Lawyers for President Trump have reached an agreement with the House Intelligence & Financial Services panels to stay the subpoenas of Trump’s financial records from Deutsche Bank & Capital One. In exchange, they agreed to an expedited court schedule. Story @cnn soon— Cristina Alesci (@CristinaAlesci) May 25, 2019
In exchange, Trump's team has agreed to an expedited court schedule in front of a panel of appeals court judges.
On Wednesday, Judge Edgardo Ramos in New York refused to block the subpoenas, giving the Trump team one week to find a way to prevent the financial information from disclosure. The two congressional committees issued subpoenas last month to Deutsche Bank - the president's primary lender over the last 20 years, and Capital One, where he keeps some of his money.
The subpoenas sought decades of personal and corporate financial records, including any documents related to possible suspicious activities detected in Mr. Trump’s personal and business accounts.
Mr. Trump, his company and his three eldest children — Donald Jr., Eric and Ivanka — filed a lawsuit on April 29 to block Deutsche Bank and Capital One from complying with the subpoenas. -New York Times
On Friday, Trump appealed a federal judge’s decision that Deutsche Bank and Capital One can turn over years of financial records. https://t.co/SFcIxXff70— Siraj Hashmi (@SirajAHashmi) May 25, 2019
On Wednesday, House Intel Committee chair Adam Schiff (D-CA) said that congressional investigators want to interview a former Deutsche Bank employee, Tammy McFadden, who told the Times that she had witnessed the family of Trump's son-in-law, the Kushners, transfer money to Russian individuals in the summer of 2016.
Meanwhile, House Oversight Committee Chairman Elijah Cummings (D-MD) issued a subpoena to accounting firm Mazars USA for eight years of Trump's financial records, which a federal judge upheld on Monday after Trump's legal team sought to have that stayed as well.
House Oversight Chairman Elijah Cummings (D-Md.) sent the subpoena to Mazars last month as part of the panel‘s investigation into whether Trump committed financial crimes before he became president.
The panel’s focus has been on trying to corroborate claims made by Trump’s former personal attorney Michael Cohen, who earlier this year gave the committee documents purporting to show Trump artificially inflated and deflated the value of his assets for his personal financial benefit. -Politico
Trump attorney Jay Sekulow said of the ruling "We will be filing a timely notice of appeal to the D.C. Circuit Court of Appeals."
The rulings and the New York legislation are the most serious attempts to date to pierce the veil of Trump's finances, and increase the odds that Congressional Democrats looking to launch impeachment proceedings would be armed with ample ammunition, according to the Times.
"Very excited," said House Speaker Nancy Pelosi in response to the Manhattan judge's ruling. "Two in one week!"