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Court: Deutsche Bank Does Not Have Donald Trump's Tax Returns

11 October 2019

Court filings show that the House also subpoenaed financial documents related to Trump-owned entities, but those subpoenas don't include tax returns.

The Court is now considering whether to overturn a prior NY district court decision, which ruled that the German bank had to comply with subpoenas to turn over the financial records of Trump and his family.

Trump's longtime bank previously said it had tax records Congress wants in its investigation of the president's finances.

Deutsche Bank told a federal appeals court in a letter revealed on Thursday that it does not hold President Donald Trump's tax returns.

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The order from the court Thursday specifies that the bank does not have the president's returns, but says, rather, that it has returns for two other individuals. The court did not identify whose records the bank has.

But because the returns held by Deutsche Bank aren't those of the president, the judges said, they aren't relevant to any issue the court has to decide, so the filing must remain under seal.

In a court filing last month, the bank said it had the tax returns of two individuals that could be turned over to the House of Representatives under a subpoena focused on Trump, if a court orders it.

The two congressional panels issued a joint 12-page subpoena in April seeking the records. The case is one of several testing the power of Congress to compel production of a sitting president's financial records in the name of oversight.

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In a separate ruling on Monday, a federal judge said eight years of Trump's tax returns must be provided to Manhattan prosecutors, forcefully rejecting the president's argument that he was immune from criminal investigations. A spokeswoman for Trump did not respond to requests for comment.

Trump is appealing in a separate case in NY, where a judge this week rejected the president's effort to block the Manhattan district attorney from accessing Trump's tax returns as part of an investigation into hush-money payments during the 2016 campaign.

Unlike past presidents, Trump has refused to release his tax returns and has sued to try to stop the banks and his accounting firm from complying with congressional subpoenas.

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Court: Deutsche Bank Does Not Have Donald Trump's Tax Returns