Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement following oral arguments before the U.S. Supreme Court regarding Trump v. Deutsche Bank AG, on whether Congress has the authority to subpoena the President’s financial records.
“I am pleased that the Court has taken the historic step of convening virtually and livestreaming oral arguments during the COVID-19 pandemic. Over a year ago, the Committee issued lawful subpoenas to Deutsche Bank and Capital One for financial records as part of a broader investigation into money laundering and the safety and soundness of lending practices at financial institutions. The Trump family’s intervention to block the banks’ compliance with these subpoenas led to this case. I would like to thank House General Counsel Doug Letter for his strong arguments in defense of the House’s institutional prerogatives in this regard. I look forward to the final ruling.”