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Photo: Sergio Flores/AFP via Getty Images

A new court ruling Wednesday will allow House Democrats to access some of former President Donald Trump's financial records from his accounting firm Mazars USA.

Why it matters: Trump has aggressively fought to keep his financial records secret, and the ruling notes that Trump unsuccessfully sued to stop Mazars from complying with the subpoena.

The big picture: Not all of the records requested by House Democrats will be released, as the handover of some of the documents would raise separation-of-powers concerns, Bloomberg reports.

  • “Separation of powers considerations do not entirely disappear merely because the entanglement is between Congress and a former President,” U.S. District Judge Amit Mehta wrote in the ruling.
  • The accounting firm will be required to release documents concerning the government's lease with the Trump Organization for the Old Post Office in Washington, D.C., and "certain emolument questions," notes Bloomberg.
  • Mehta narrowed the scope of what materials could be accessed. He approved a subpoena for Trump's financial records in 2017 and 2018, but didn't approve access for similar records dating back to 2011, per Politico.

House Democrats had presented "detailed and substantial" evidence that Trump, though his business dealings, may have violated the Emoluments Clause, which bans the acceptance of foreign gifts without congressional approval, CNN reports.

  • Mehta noted in the ruling that there is evidence that "Trump’s businesses received some foreign payments during his presidency."
  • "The Committee therefore is not engaged in a baseless fishing expedition," he added.

State of play: The House Oversight Committee issued the subpoena to Mazars USA in 2019, seeking eight years of records concerning Trump and his business entities, per the Wall Street Journal.

  • Trump challenged the subpoena and the case reached the Supreme Court last year, with justices ruling that the subpoena's scope must be "no broader than necessary," per Bloomberg.

Go deeper

Trump deposed under oath in lawsuit over 2015 protest

Former President Trump speaks to supporters during a rally at the Iowa State Fairgrounds. Photo: Scott Olson via Getty Images

Former President Trump was questioned under oath for several hours on Monday in a deposition related to a 2015 lawsuit, CNN reports.

Why it matters: The suit alleges that Trump's security guards assaulted six people outside Trump Tower in New York while they were protesting Trump's derogatory comments about Mexico and Mexican immigrants.

Jan. 6 committee recommends contempt charges against Bannon

Steve Bannon. Photo: Stephanie Keith/Getty Images

The House select committee investigating the deadly Jan. 6 Capitol riots unanimously approved a resolution Tuesday night recommending that former Trump aide Steve Bannon be held in contempt of Congress for refusing to comply with a subpoena.

Why it matters: The resolution sets up a House vote to refer Bannon for potential criminal prosecution, signaling that the committee will not tolerate attempts by former President Trump and his associates to stymie the investigation.

Trump blasts "wacky" GOP Sen. Cassidy after "Axios on HBO" interview

Former President Trump on Monday blasted Sen. Bill Cassidy (R-La.) after he told "Axios on HBO" that he is not sure Trump could win the 2024 Republican presidential nomination.

Driving the news: When told that Trump could be expected to win the nomination, Cassidy jumped in saying: "I don't know that."