Trump-Deutsche Bank links in sights of U.S. House
investigators
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[January 18, 2019]
By Mark Hosenball and Ginger Gibson
WASHINGTON (Reuters) - Democrats now in
control of the U.S. House of Representatives are working out which House
panels will take the lead in investigating President Donald Trump's
business ties to Deutsche Bank, lawmakers and aides familiar with the
plans told Reuters.
As the new Democratic House of Representatives majority launches a range
of investigations into the Republican president and his businesses, the
Intelligence Committee and Financial Services Committee are poised to
dig into his ties with Deutsche <DBKGn.DE>, one of the world's largest
financial institutions.
Democratic lawmakers' aides are discussing how to divide up the
investigative work among committees and prevent overlap on requesting
documents, aides said.
Since U.S. voters on Nov. 6 shifted majority control of the House from
the Republicans to the Democrats, the party has been promising to probe
the first two years of Trump's administration and possible conflicts of
interest presented by his hotel, golf course and other ventures, as well
as Trump family members.
White House officials did not respond to a request for comment. The
White House in the past has referred questions about Trump businesses to
the Trump Organization.
Officials at the Trump Organization could not immediately be reached for
comment.
A Deutsche Bank spokesman said: "Deutsche Bank takes its legal
obligations seriously and remains committed to cooperating with
authorized investigations. Our recent record of cooperating with such
investigations has been widely recognized by regulators. We intend to
keep working in this spirit."
The Financial Services Committee, chaired by Democrat Maxine Waters, 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.
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A Deutsche Bank sign is seen on the floor of the New York Stock
Exchange in New York, U.S., January 15, 2014. REUTERS/Brendan
McDermid/File Photo
But the bank told Congress that privacy laws prevented it from handing over such
information without a formal subpoena. Committee Republicans ignored Waters'
request. As chairwoman, Waters can now issue subpoenas herself.
In recent weeks, Waters has been publicly quiet about her plans. In a speech on
Monday on committee priorities, she made no mention of the bank. A Waters
spokesman declined to comment.
Democratic aides outside the committee said Waters plans to move quietly on the
Deutsche inquiry. She cannot begin formally issuing subpoenas until after the
committee holds its first business meeting, expected by the end of January.
Deutsche has extended millions of dollars in credit to the Trump Organization,
making the bank one of few willing to lend extensively to Trump in the past
decade.
A 2017 financial disclosure form showed liabilities for Trump of at least $130
million to Deutsche Bank Trust Company Americas, a unit of German-based Deutsche
Bank AG.
House Intelligence Committee Democrats also want to investigate Trump and his
Deutsche links, said three congressional officials familiar with committee
discussions.
A Judiciary Committee spokesman said it has been consulted.
(Reporting by Mark Hosenball and Ginger Gibson; editing by Kevin Drawbaugh and
Lisa Shumaker)
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