A federal judge in NY on Wednesday ruled Deutsche Bank and Capital One can comply with subpoena requests made by congressional Democrats to turn over President Trump's financial and business records, despite objections from the Trump family.
Rep. Jim Jordan, R-Ohio, the ranking member of the House Oversight Committee, called the inquiry into Mazars USA "an unprecedented abuse of the Committee's subpoena authority to target and expose the private financial information of the President of the United States".
Judge Edgardo Ramos sided with Congressional lawyers and ruled that the subpoenas are "in furtherance of a facially legitimate government goal", even though they are "undeniably broad".
Two days later, a judge in NY rejected an effort by the president and his family to block their biggest lender and one of their banks from complying with congressional subpoenas.
Congress has the broad authority to investigate matters related to possible legislation, but that doesn't mean that its powers are limited to probes that involve contemplated bills, Ramos said.
Lawyers for President Trump said it is a "safe bet" they would appeal.
Capital One, the House Financial Services Committee and House Intelligence Committee did not immediately respond to requests for comment.
President Donald Trump has lost a subpoena fight in federal court for the second time this week. In the month that followed his comments, Treasury Secretary Stephen Mnuchin defied a subpoena for the president's tax returns and Attorney General William Barr defied a subpoena seeking a fully unredacted version of the Mueller report.
As the hearing unfolded, the judge told the lawyers he was not going to block the committee's demand, and then after the hearing quickly issued a one-page order refusing a temporary order against enforcement of the subpoena.
For the past decades, Deutsche Bank was the main source of loans for Trump, who was consistently rebuffed by other banks because of his repeated bankruptcies.
Trump's lawyers had asked the judge to temporarily block Congress from obtaining the records.
Both Deutsche Bank and Capital One wrote in court filings that they take "no position" on the subpoenas and that the dispute is between Trump and the House.
FILE - In this May 16, 2019, file photo, President Donald Trump speaks in the Rose Garden of the White House in Washington.
The banks are the only defendants in the case, but the House committees have intervened to oppose Trump's effort to block the subpoenas.