trump big bank lawsuit

Donald Trump, the President of one of the most powerful countries, has sued Capital One (COF) & Deutsche Bank (DB) in order to restrict them from reverting back to the subpoenas issued by the House.

A subpoena was issued by the House Financial Services and Intelligence Committees to Deutsche Bank. The bank’s lender remarked that the committees linked to the Democrats have inquired about their connection to President Trump. In lieu of this, Trump and his team alleged that the opponents of the House and Financial Service Committees are sailing in the wrong direction.

The complaint remarked that the opponents just having political motives with no legitimate aim behind it. And that the subpoenas were only meant to distract the President. The opponents want to know every inch of his and his family’s personal and business lives.

The complaint added, both institutions are serving Trump for many years and that is why the opponents are looking for vulnerabilities in the records of Trump’s business. Opponents argue that this is just a ploy to exaggerate the truth of the President’s business and personal dealings.

‘Permanent Injunction’

Team Trump is appealing to the court to dismiss the subpoenas issued against the finances of Trump and mark it as unenforceable. It has also appealed the court to permanently crush such subpoenas against Trump.  The team has even requested the court to restrict both the institutions, Deutsche Bank and Capital One, permanently from sharing any kind of information related to Trump’s finances to anyone even under a subpoena.

Maxine Waters, D-Calif.(The Chairman of House Financial Services Committee) and Adam Schiff, D-Calif. (The Chairman of House Intelligence Committee) delivered a joint statement. Here they marked Trump’s move as meritless and that such moves of Trump and his team show his deep efforts to interrupt the authority of the Congress.

All this happened when Trump made a move against Elijah Cummings, chairman of Democratic House Oversight Committee. In this move, Trump sought to prohibit the subpoenas against his finances.

Trump’s defenders alleged that the Democrats are trying to declare a full-fledged political war against “The Donald.”

According to The New York Times, Deutsche Bank, despite many red flags, provided Trump a loan of more than $2 billion. This happened when Trump wasn’t President. After all this, Deutsche Bank said they will follow the commands of the court and deliver the needed information to any legitimate investigations.

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