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Judge rules against Trump, paves way for banks to provide his business records to Congress

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https://www.reuters.com/article/us-usa-trump-banks/judge-rules-against-trump-paves-way-for-banks-to-provide-his-business-records-to-congress-idUSKCN1SS12V?feedType=RSS&feedName=politicsNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FPoliticsNews+%28Reuters+Politics+News%29

NEW YORK (Reuters) - U.S. President Donald Trump, three of his children and the Trump Organization on Wednesday lost their bid to block Deutsche Bank AG and Capital One Financial Corp from providing financial records to Democratic lawmakers investigating Trump’s businesses.

In a decision read from the bench after hearing arguments, U.S. District Judge Edgardo Ramos in New York said Congress has the legal authority to demand the records, clearing the way for the banks to comply with subpoenas issued to them by two U.S. House of Representatives committees last month.

The committees have agreed not to enforce the subpoenas for seven days, the judge said. It was the second time in three days that a judge had ruled against the Republican president in his fight with Democrats and Trump’s lawyers were expected to appeal both decisions.

Ramos said he would not suspend his decision pending appeal.

Some Democratic lawmakers welcomed the decision.

“So far, I think the president would be wise to come to the realization that our legitimate areas of inquiry are going to be supported by the courts,” Representative Dan Kildee, a Michigan Democrat and member of the House Ways and Means Committee, told Reuters in an interview.