Deutsche Bank giving Congress Trump's financial records amid probe of president’s dealings

President is accused of inflating value of his real estate assets 

Trump received more than $2bn in loans from Deutsche Bank despite being 'deemed untouchable' by other institutions, report claims

Deutsche Bank has been cooperating with the House Financial Services Committee’s investigation into Donald Trump’s finances, according to the top Democrat leading the probe.

Chairwoman Maxine Waters confirmed the bank was now providing its records of the president’s finances, after previously rebutting Democrats throughout 2017 and 2018.

The bank previously declined to cooperate with Democrats on the committee before they assumed majority power after sweeping the House in the 2018 midterm elections.

Confirming the bank’s cooperation to reporters on Capitol Hill, Ms Waters said on Tuesday the committee was probing “everything” involving Mr Trump’s financial dealings with the bank that was recently fined in a major Russian money laundering scheme.

The chairwoman added she was satisfied with its level of cooperation since Democrats took over the investigation, after Republicans previously rejected their efforts to probe Mr Trump’s ties to Deutsche Bank.

Mr Trump and Deutsche Bank were “deeply entwined” throughout his rise to prominence as a New York real estate mogul, according to a major New York Times report published earlier this month, which alleged the president inflated the value of his assets by as much as 70 per cent.

The extent of Mr Trump’s potential involvement in criminal misconduct with Deutsche Bank remains unclear, as investigators probe other possible financial crimes in addition to the bank’s money laundering.

The bank was previously accused of violating international sanctions, along with money laundering, market manipulation and other illegal practices. It was forced to pay $630m (£476) in fines to the Justice Department in 2017.

At least two congressional committees are currently looking into the president’s dealings with Deutsche Bank.

Support free-thinking journalism and attend Independent events

The House Intelligence Committee has also launched an investigation into the president’s finances, including his connections with the bank, which has been reported to have lent money to Mr Trump at a time when few other financial institutions were willing to work with him.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in