Two House committees subpoenaed Deutsche Bank and several other financial institutions Monday as part of investigations into President Donald Trump's finances.
House Intelligence Committee Chairman Adam Schiff, D-Calif., said in a statement that the subpoenas are part of an investigation "into allegations of potential foreign influence on the U.S. political process."House Financial Services Committee Chairwoman Maxine Waters, D-Calif., said in a separate statement that "the potential use of the U.S. financial system for illicit purposes is a very serious concern.
Eric Trump, the president's son and executive vice-president of The Trump Organization, said in a statement released Monday that the subpoenas were "an unprecedented abuse of power and simply the latest attempt by House Democrats to attack the President and our family for political gain." Deutsche Bank is a German asset management firm that has lent Trump's real estate organization millions of dollars over time. The two committees have been working with the bank for several weeks, and both Waters and Schiff have said officials have been co-operative. Schiff said in his statement that the subpoena to Deutsche Bank is a "friendly" subpoena, meaning he expects them to continue working with the committees.
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