
Frankfurt-based Deutsche Bank remains one of the biggest lenders to the Trump Organisation, which has reportedly suffered some hardship during the coronavirus pandemic. The bank has been repeatedly targeted by Democrats, pressuring it to reveal Donald Trump’s financial records.
Deutsche Bank has declined to provide information about US President Donald Trump and his family’s financial interactions with the bank, following a request by US Democratic senators, Reuters and Bloomberg reported, citing a letter dated 21 April.
The German bank is a large creditor to the Trump Organisation, owned by the president and his family, which has been reportedly hard hit during the coronavirus crisis, with many hotels, golf courses and other properties now shut. At the start of April, reports emerged that the Trump Organisation has been exploring the possibility of delaying some of its payments in communication with the bank, propelling four Democratic senators to investigate the matter.
“In particular, this favor-seeking from the Trump Organization in the midst of the economic collapse raises the questions of whether Deutsche Bank may treat the Trump Organization more favorably than other similarly-situated companies”, the latter argued.
Following Deutsche Bank’s decision not to provide information about the bank’s interaction with Trump’s company, Warren reportedly wrote to Reuters on Saturday, arguing that the financial institution “must answer” the senators’ questions.
Trump's Long-Demanded Financial Records
Deutsche Bank is currently being investigated by the US Department of Justice in relation to several money-laundering scandals. The bank has also been ordered to disclose Donald Trump’s financial records to US Congress following a decision by a federal appeals court in New York in December 2019.
Next month, the US Supreme Court will hear whether Deutsche Bank must reveal Trump’s family financial records, which have been subpoenaed by the US House of Representatives intelligence and financial services committees. Trump's legal team has previously asserted that the subpoenas are politically motivated.
Source: sputniknews.com
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