The subpoenas are broad and extend to many former employees of the institutions but it looks like a fight will be ongoing for the near future.
The Trump family on Monday filed a lawsuit against Deutsche Bank and Capital One to prevent the banks from complying with subpoenas from the House Intelligence and Financial Services Committees, the Washington Examiner reported. The lawsuit was filed on behalf of President Donald Trump, three of his children and the Trump Organization. They allege the Democratic-led subpoenas are being issued to "harass" the president and his family based solely on political differences.
“This case involves congressional subpoenas that have no legitimate or lawful purpose,” the lawsuit says. “The subpoenas were issued to harass President Donald J. Trump, to rummage through every aspect of his personal finances, his businesses and the private information of the president and his family, and to ferret about for any material that might be used to cause him political damage. No grounds exist to establish any purpose other than a political one.”
The House Intelligence and Financial Services Committees sent letters to Deutsche Bank earlier this month. The Committees are interested in Deutsche Bank's relationship with President Trump because they have given him more than $2 billion in loans over the years.
When Deutsche made the Trumps aware of the subpoena on April 17th, the bank said the Committees wanted "records and/or information relating to banking activities, including information regarding accounts, financings, and related financial information," Business Insider reported.