A federal appeals court ruled on Tuesday that Deutsche Bank and Capital One must comply with a House subpoena seeking a broad range of financial documents related to President Trump and his businesses, NBC News reports.
A three-judge panel of the 2nd Circuit Court of Appeals on Monday ruled 2-1 in favor of ordering “prompt compliance” with the subpoenas from the House Financial Services and Intelligence committees.
“The public interest in vindicating the Committees’ constitutional authority is clear and substantial,” the judges wrote in the decision, according to the report.
“It is the interest of two congressional committees, functioning under the authority of a resolution of the House of Representatives authorizing the subpoenas at issue, to obtain information on enforcement of anti-money-laundering/counter-financing of terrorism laws, terrorist financing, the movement of illicit funds through the global financial system including the real estate market, the scope of the Russian government’s operations to influence the U.S. political process, and whether the Lead Plaintiff was vulnerable to foreign exploitation,” they continued.
Judges Jon Newman, who was appointed by former President Jimmy Carter, and Peter Hall, a George W. Bush appointee, joined for the majority decision. Judge Debra Ann Livinston, another Bush appointee, issued a partial dissent.
The ruling is the latest blow to the president’s efforts to fight off congressional oversight of his business dealings and personal finances.
The Deutsche subpoenas seek extensive categories of documents, with the requests filling six single-spaced pages.
Trump sued to block the subpoenas in April and appealed after a district court ruled that the companies had to comply.
The 2nd Circuit and the D.C. Circuit have both ruled that Trump’s accounting firm must comply with separate subpoenas from the Manhattan district attorney and House investigators. The president has asked the Supreme Court to intervene in some of those cases.
And Trump’s lawyers have already suggested appealing this decision to the Supreme Court.