Rep. Maxine Waters (D-CA), chair of the House Financial Services Committee, and Rep. Adam Schiff (D-CA), chair of the House Intelligence Committee, have sent a joint inquiry to Deutsche Bank in an effort to get more information about the financial institution's connection to President Trump and his businesses.
"The House Financial Services and Intelligence Committees are engaged in productive discussions with Deutsche Bank, and look forward to continued cooperation," said Intelligence Committee Chairman Adam Schiff and Financial Services Committee Chairman Maxine Waters.
Deutsche Bank said it is working with the two committees to "determine the best and most appropriate way of assisting them in their official oversight functions."
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A 2018 financial disclosure form showed liabilities for Trump of at least $130 million to Deutsche Bank Trust Company Americas, a unit of the German bank. They are for properties including the Trump International Hotel in a former post office in Washington.
The Financial Services Committee has the broadest power to look into Trump's relationship with Deutsche.
When the Republicans still controlled the House, Waters tried in 2017 to request documents from the bank on its dealings with Trump and his businesses, as well as information about potential Russian money laundering through the bank.
The bank told Congress that privacy laws prevented it from handing over such information without a formal subpoena and committee Republicans ignored Waters' request. As chairwoman, Waters can now issue subpoenas herself.
Deutsche Bank queried by US House panels on Trump ties (Reuters)