President Donald Trump’s attorneys have come to an agreement with the House Intelligence and Financial Services Committee.
The agreement has the Democrat controlled committee agreeing to not enforce the subpoenas to get the president’s financial records from Deutsche Bank and Capital One for now, CNN reported.
“The parties have reached an agreement regarding compliance with and enforcement of the subpoenas during the pendency of Plaintiff’s appeal,” the document that was submitted to the court read.
Earlier this week, Judge Edgardo Ramos in New York had refused to block the subpoenas, setting off a one-week clock for the Trump team to find a way to prevent extensive financial information from being released. The agreement blocks the subpoenas for now until an appeals court can weigh in.
A federal judge in New York dealt Democrats a blow in a case in which they want to access President Donald Trump’s financial records.
“If this was an ordinary civil case, I would send you guys into a room … until you came out with a reasonable subpoena,” Judge Edgardo Ramos said.
The Southern District of New York judge gave Trump a minor victory when he told the Democrats that their subpoena was too broad but he still sided with the Democrats, Law & Crime reported.
U.S. District Judge for the Southern District of New York Edgardo Ramos on Wednesday ruled that President Donald Trump can’t block the congressional subpoena issued to Deutsche Bank, agreeing with his D.C. colleague’s rationale in the Mazars USA case. Trump, of course, sued both Mazars USA (his accountant) and Deutsche Bank after House Democrats demanded that these entities hand over documents related to Trump’s finances…
Douglas Letter, general counsel for the House of Representatives, argued that it’s about time the American people find out of its president or the president’s son-in-law Jared Kushner are beholden to foreign interests and entities.
Notably, Deutsche Bank reps were offered an opportunity to comment, but they opted to sit on the sidelines.
Attorney Richard Roth, founder at partner at the Roth Law Firm, PLLC, previously told Law&Crime why he thinks Deutsche Bank is taking this path.
“While typically a bank does stand behind its customer, there are two reasons why Deutsche Bank is staying silent. The first, and less obvious, is that when a motion is made to quash (or deny) the subpoena, banks generally sit back to allow the parties to fight and await the result,” he said.
“But in this instance, the issues are more serious. Essentially, we have a very public dispute between the legislative and executive branches of government, which no bank wants to takes side in,” he said.