On Wednesday, President Trump’s attorneys announced that their recent suit against banks Capital One and Deutsche Bank, coming in regards to House Democrats’ repeated attempts to subpoena Trump’s financial information, appear to have been successful.
According to the legal team, the banks have now agreed not to relinquish the president’s information, pending a judge’s ruling, in response to the Trump family’s earlier lawsuit.
Following Trump’s recent vindication of collusion and obstruction allegations, House Democrats have demanded a series of investigations into the president’s financial information, as well as his family’s private financial records.
The continued subpoenas and investigations have earned growing backlash for Democrats, coming from President Trump, his family and administration, Republicans, and his supporters – all of whom have continuously denounced the tactics as harassment.
From The Hill:
Attorneys for President Trump said in a court filing Wednesday that Deutsche Bank and Capital One have agreed not to produce any financial records requested under congressional subpoenas until after a federal judge rules on whether to issue a preliminary injunction in the case.
Trump, his family and his private businesses sued the banks earlier this week to block the subpoenas for the financial records, but this filing indicates that the release of any documents has been put off until a judge makes an initial ruling.
The president’s attorneys also stated that attorneys for the House plan to intervene in the case as defendants, meaning they will now be the subject of the lawsuit.
Trump’s lawyers said they plan to file a motion for a preliminary injunction by May 3 and can appear in court for a hearing the week of May 20.
This lawsuit was filed late Monday in an attempt to block congressional subpoenas issued by House Financial Services Chairwoman Maxine Waters (D-Calif.) and House Intelligence Committee Chairman Adam Schiff (D-Calif.) for financial records tied to the president.
The president’s lawyers argued that it was an overreach of power by Congress to seek the records and that it was an attempt to attack Trump’s reputation ahead of the 2020 election.
House Democrats have criticized the lawsuit as “unprecedented stonewalling.”
Trump and his businesses have also sued House Oversight and Reform Committee Chairman Elijah Cummings (D-Md.) to block another congressional subpoena seeking financial records from the accounting firm Mazars.