Democrats expand probe of Trump finances

WASHINGTON—House Democrats widened their investigation into President Donald Trump’s financial records Monday. The House Intelligence and Financial Services committees jointly issued a subpoena to Deutsche Bank, a longtime lender to Trump, and to other financial institutions, including JPMorgan Chase, Bank of America, and Citigroup, according to The New York Times. The investigation examines possible money laundering connections with Russia and Eastern Europe, the Times reported, citing anonymous sources familiar with the investigation.

“The potential use of the U.S. financial system for illicit purposes is a very serious concern,” Financial Services Committee Chairwoman Maxine Waters, D-Calif., said in a statement. Eric Trump, the president’s son who co-leads the Trump Organization, called the subpoena “an unprecedented abuse of power and simply the latest attempt by House Democrats to attack the president and our family for political gain.”

Meanwhile, the president’s attorneys have warned Mazars USA, the subject of a subpoena from the House Oversight and Reform Committee, not to hand over the president’s financial records. In a letter obtained by Politico, Trump attorneys William Consovoy and Stefan Passantino put the accounting firm “on notice,” warning it not to comply with the subpoena until after it is challenged, signaling a court battle is likely on the horizon.