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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.

The big picture: Trump is currently engaged in court battles with both House Democrats and the Manhattan district attorney over subpoenas ordering his longtime accounting firm Mazars USA to turn over his tax returns. He has appealed both cases to the Supreme Court, where the Deutsche Bank and Capital One case is likely to end up as well.

  • Trump's arguments that he is protected from criminal prosecution while president and that the House's investigations into his financial dealings "serve no legitimate legislative purpose" have both been struck down by judges and appeals courts.
  • The overarching theme from the judges who have presided over these cases is that Trump's tax returns are a matter of "public interest."

What to watch: Trump's attorney Jay Sekulow said in a statement, "We believe the subpoena is invalid as issued. In light of the Second Circuit decision, we are evaluating our next options including seeking review at the Supreme Court of the United States."

Read the ruling.

Go deeper

Rep. Dan Crenshaw says he'll be blind for a month after eye surgery

Rep. Dan Crenshaw (R-Texas) in Washington, D.C., in December 2020. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Dan Crenshaw (R-Texas) said in a statement Saturday he will be blind for roughly a month after getting surgery to reattach the retina in left eye.

Why it matters: Crenshaw, who lost his right eye and sustained severe damage to his left eye during his third deployment to Afghanistan in 2012, said he will be "pretty much off the grid for the next few weeks."

Miriam Kramer, author of Space
3 hours ago - Science

NASA's Mars helicopter is a test for the future of space exploration

Ingenuity (left) with Perseverance on Mars. Photo: NASA/JPL-Caltech/MSSS

NASA is set to fly the first test flight of its tiny Ingenuity helicopter on Mars Sunday, marking the advent of drones for space exploration.

Why it matters: If successful, this flight will be the first time a human-built aircraft has flown on a world other than Earth, opening the door to new means of exploring planets far from our own.

Bryan Walsh, author of Future
4 hours ago - Politics & Policy

The global future is looking dark and stormy

Illustration: Rae Cook/Axios

A new 20-year-forecast for the world: increasingly fragmented and turbulent.

The big picture: A major report put out this week by the National Intelligence Council reflects a present rocked by the COVID-19 pandemic. How the next two decades will unfold depends largely on whether new technologies will ultimately unite us — or continue to divide us.