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BREAKING NEWS

Trump, family to see 'substantial portions' of House subpoenas to banks

Trump, family to see 'substantial portions' of House subpoenas to banks
FILE PHOTO: The U.S. Capitol building reflected in water at sunrise on the day of the U.S. midterm election in Washington, U.S., November 6, 2018. REUTERS/Jim Bourg/File Photo -
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By Jonathan Stempel

NEW YORK (Reuters) - A lawyer for Donald Trump said committees controlled by House Democrats have agreed to provide "substantial portions" of subpoenas issued to Deutsche Bank AG and Capital One Financial Corp for the president's financial records.

In a letter filed on Wednesday in Manhattan federal court, Patrick Strawbridge, who also represents Trump's three adult children and his company, withdrew his clients' request that the committees turn over the subpoenas.

The letter prompted U.S. District Judge Edgardo Ramos to cancel a scheduled May 9 hearing on the matter, which Strawbridge said was no longer necessary.

Strawbridge said the request had no impact on Trump's motion for a preliminary injunction blocking the banks from turning over details about the president's finances, or otherwise complying with the House subpoenas.

The letter was filed one day after Deutsche Bank and Capital One took no formal position on the legal battle between Trump and the House of Representatives committees.

Those committees are the House Financial Services Committee, chaired by Representative Maxine Waters of California, and the House Intelligence Committee, chaired by Representative Adam Schiff of California.

Deutsche Bank has long been a principal bank for Trump's real estate empire, and a 2017 disclosure form showed that Trump had at least $130 million of liabilities to the German lender.

Democratic lawmakers in March asked Capital One for documents concerning potential conflicts of interest tied to Trump's downtown Washington hotel and other business interests.

Lawyers for Donald Trump, his adult children Donald Jr., Eric and Ivanka, and the Trump Organization have argued that the subpoenas were overbroad, and meant to uncover information that could be used to harass and politically attack the president.

Trump, a Republican, is seeking re-election in 2020. A hearing on the preliminary injunction motion is scheduled for May 22, court records show.

The case is Trump et al v. Deutsche Bank AG et al, U.S. District Court, Southern District of New York, No. 19-03826.

(Reporting by Jonathan Stempel in New York; Editing by Phil Berlowitz)

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