Deutsche Bank

Appeals court orders Trump's banks to turn financial records over to Congress

Trump under an umbrella
Photo: Chip Somodevilla/Getty Images

The Second Circuit Court of Appeals ruled on Tuesday that Deutsche Bank and Capital One must comply with a congressional subpoena for President Trump, his children and his company's financial records.

The backdrop: Trump filed an appeal in August after a New York district judge declined to block the subpoenas, which were issued by the House Intelligence and Financial Services committees in April as part of an investigation into foreign influence. Deutsche Bank said in a letter in October that while it has some of the records sought by the House, it is not in possession of the president's tax returns.

Deutsche Bank tells court that it does not have Trump's tax returns

Trump at Trump Tower
Photo: Eduardo Munoz Alvarez/AFP/Getty Images

The Second Circuit Court of Appeals has denied a request from various media outlets to unseal two redacted names included in a Deutsche Bank letter responding to House subpoenas for President Trump and his family's tax returns.

"[T]he unredacted letter from Deutsche Bank has removed that potential issue from the appeal because that letter reports that the only tax returns it has for individuals or entities named in the subpoenas are not those of the President. In light of that response, information in the sealed letter, i.e., the identity of the two taxpayers whose tax returns Deutsche Bank has, is not relevant to any issue we need to decide."