Deutsche Bank says it has Trump-linked tax returns

Deutsche Bank says it has Trump-linked tax returns

Deutsche Bank is in possession of tax returns filed by President Donald Trump, his family or his businesses, according to a letter the German lender filed with a U.S. court on Tuesday afternoon.

"A source close to Deutsche Bank says Trump's tax returns show he pays very little income tax and, more importantly, that his loans have Russian co-signers".

The banks were then ordered to submit the letters filed Tuesday.

Trump has sued to block two House committees from getting the records.

They asked the bank in April to give financial records belonging to the president, his businesses plus Ivanka, Eric and Donald Trump Jr. There is a similar battle with Mazars, the Trump family's accountant, which is also subject to congressional subpoenas and said it will comply.

The disclosure reveals a new avenue that congressional Democrats could use to pursue Trump's tax documents - filings he has refused to make public despite earlier pledges and decades of tradition. Yet the bank acknowledges the US House would see people's tax returns - possibly even those of Trump family members - if the bank fulfilled a subpoena related to Trump, according to a letter from the bank to a federal appeals court on Tuesday.

The Trumps are also seeking to block a separate subpoena served by the Financial Services Committee on Capital One Financial Corp COF.N seeks records related to the Trump Organization's hotel business.

"Deutsche Bank told the court that "public confirmation" of whose returns it possessed would "'reveal specific details of the manner in which' customers" went about their personal banking activities.

"The bank has in its possession tax returns (in either draft or as-filed form) responsive to the subpoenas for [redacted]", the Financial Times cited the letter as saying.

Michael Glassner, chief operating officer for Trump's presidential campaign, said the president will talk about "historic achievements" for the country and "his long record of accomplishments in the state". They also said it wouldn't apply if wouldn't apply if they got the information from the IRS at the request or consent of Trump or any other plaintiffs.

A district court ruled against the president, and he appealed.

The appeals court has not yet issued a decision.

House Democrats have employed multiple efforts to access Trump's financial records.

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