House Democrats are telling Capital One bank to turn over a host of financial records about President Donald Trump and the Trump International Hotel, as part of a wide-ranging investigation into Trump’s potential financial conflicts of interest and whether he’s in compliance with the Constitution’s clause ensuring he doesn’t receive gifts from foreign governments.
The bank responded that it needs a subpoena from the Democrats to comply with the request.
The new demand is the latest development in the growing number of investigations launched by subpoena-wielding House Democrats over all aspects of Trump’s presidency, business life and financial ties. Just this week, House Democrats have served subpoenas to get information on White House security clearances and administration discussions over the 2020 Census, while authorizing subpoenas for the full report from special counsel Robert Mueller and stepping up efforts to learn about the President’s finances and taxes.
In a letter to Capital One CEO Richard Fairbank, three Democratic committee chairs — Oversight Chairman Elijah Cummings, Intelligence Chairman Adam Schiff and Financial Services Chairwoman Maxine Waters — requested financial information related to the Trump International Hotel in Washington, including possible suspicious activity identified by Capital One, documents related to anti-money laundering reviews and documents related to “any real estate transactions.”
“The House Committees on Oversight and Reform, Financial Services and Intelligence are investigating several overlapping topics including but not limited to the President’s potential financial conflicts of interest, compliance with the foreign and domestic Emoluments Clauses of the U.S. Constitution and any counterintelligence threats arising from links or coordination between U.S. persons and other foreign entities, including any financial or other compromise or leverage over the President and his business interests,” the Democrats wrote.