Judge rules banks can hand over Trump financial records to Congress

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By Tom Winter  with NBC News Politics
President-elect Donald Trump along with his children Eric, Ivanka and Donald Jr., arrive for a press conference at Trump Tower in New York, accompanied by Allen Weisselberg, chief financial officer of The Trump Organization on Jan. 11, 2017.   -   Copyright  Timothy A. Clary AFP - Getty Images file

A federal judge dealt a blow to President Donald Trump on Wednesday, ruling that two banks can hand over his financial documents in response to congressional subpoenas.

The Trump family and company sued Deutsche Bank and Capital One last month in an effort to block them from handing over financial documents sought by Congress. The House Intelligence and Financial Services committees had issued subpoenas to several banks as part of their investigations of alleged foreign influence on U.S. elections.

In his ruling, Judge Edgardo Ramos said he disagrees with the arguments from the Trump family attorneys that the subpoenas don't have a legitimate legislative purpose.

Deutsche Bank has lent Trump's real estate company millions of dollars over the years. Capitol One is among the banks that houses Trump's personal accounts.

Trump wrote a $35,000 check to his former personal attorney Michael Cohen from his Capital One account with Capital One. The money was tied to the effort to pay off two women who alleged they had affairs with Trump before he took office.