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Trump loses appeal to block banks from handing his financial records to Congress

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President Donald Trump listens during a listening session on youth vaping of electronic cigarette on November 22, 2019 in the Cabinet Room of the White House in Washington, DC.

Alex Wong | Getty Images

A federal appeals court ruled Tuesday that Deutsche Bank and Capital One can hand over years of President Donald Trump’s financial records in compliance with House Democrats’ subpoenas.

The ruling in the U.S. Second Circuit Court of Appeals offers another loss in the courts for Trump, who has fought attempts to obtain his financial records, including his tax returns, through multiple lawsuits.

The case is likely destined for the Supreme Court, where the president has already appealed two other lower court rulings requiring him to share his hidden financial documents.

Neither the White House nor a lawyer for Trump immediately responded to CNBC’s request for comment on the ruling.

In May, U.S. District Court Judge Edgardo Ramos ruled that the two banks can comply with subpoenas issued by the Democrat-led House Intelligence and Financial Services Committees to hand over financial records related to Trump, his businesses and members of his family.

Trump appealed Ramos’ ruling two days later.

The other two cases involve subpoenas issued to the president’s longtime accounting firm Mazars USA.

The justices are likely to decide whether to hear the cases in the coming days. On Thursday, the president’s private legal team is expected to submit its formal petition to the top court asking it to review a decision by the federal appeals court in Washington, D.C., that ordered Mazars to comply with a subpoena issued by the House Oversight Committee.

The justices will meet in private later this month to discuss the petition in the other case, over a subpoena issued to the firm by state prosecutors in New York.

This is breaking news. Please check back for updates.



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