Deutsche Bank Reportedly Possesses (Some) Trump-Related Tax Returns

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Topline: In an ongoing court battle to unearth President Trump’s tax returns, Deutsche Bank confirmed Tuesday that it has some returns that were requested by Congress⁠—but the bank wouldn’t say who the records belonged to, and in order for Congress to see them, the court has to rule in its favor.

• The lawsuit is connected to a congressional investigation into President Trump’s finances and his real estate holdings.
• Lawmakers subpoenaed both Deutsche Bank and Capital One, Trump’s most recent and primary lenders, for his financial records, as well as those belonging to his children, in-laws, and businesses.
• In response, Capital One said it didn’t have any corresponding records.
• Deutsche Bank said it does have some Trump-related returns (including some belonging to “immediate family”) in a letter to the court. But the names in the letter were redacted, so it’s unclear whom exactly the tax returns belong to.
• In order for Congress to see the tax returns, the court must decide whether the subpoenas issued by the House committee are legal, and if President Trump has any standing to block the release of his returns.
• The lawsuit is being decided by a federal appeals court, but there’s no indication as to when a ruling will be made.

Key background: The House financial services committee is investigating whether Trump helped foreign buyers, particularly Russians, by laundering money through his real estate holdings⁠—and whether that made the president vulnerable to foreign influence. Meanwhile, Deutsche Bank is the subject of an additional federal investigation and has also come under fire for its ties to Jeffrey Epstein. In July, the German lender announced it would lay off 18,000 of its workers by 2022.

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Topline: In an ongoing court battle to unearth President Trump’s tax returns, Deutsche Bank confirmed Tuesday that it has some returns that were requested by Congress⁠—but the bank wouldn’t say who the records belonged to, and in order for Congress to see them, the court has to rule in its favor.

• The lawsuit is connected to a congressional investigation into President Trump’s finances and his real estate holdings.
• Lawmakers subpoenaed both Deutsche Bank and Capital One, Trump’s most recent and primary lenders, for his financial records, as well as those belonging to his children, in-laws, and businesses.
• In response, Capital One said it didn’t have any corresponding records.
• Deutsche Bank said it does have some Trump-related returns (including some belonging to “immediate family”) in a letter to the court. But the names in the letter were redacted, so it’s unclear whom exactly the tax returns belong to.
• In order for Congress to see the tax returns, the court must decide whether the subpoenas issued by the House committee are legal, and if President Trump has any standing to block the release of his returns.
• The lawsuit is being decided by a federal appeals court, but there’s no indication as to when a ruling will be made.

Key background: The House financial services committee is investigating whether Trump helped foreign buyers, particularly Russians, by laundering money through his real estate holdings⁠—and whether that made the president vulnerable to foreign influence. Meanwhile, Deutsche Bank is the subject of an additional federal investigation and has also come under fire for its ties to Jeffrey Epstein. In July, the German lender announced it would lay off 18,000 of its workers by 2022.