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Deutsche Bank refuses to give U.S. senators information on recent Trump dealings

Published 04/25/2020, 08:39 AM
Updated 04/25/2020, 05:45 PM
© Reuters. FILE PHOTO: The logo of Deutsche Bank is pictured on a company's office in London

FRANKFURT (Reuters) - Deutsche Bank (DE:DBKGn) has declined a request by prominent U.S. senators to provide information about the German lender's recent business dealings with U.S. President Donald Trump and his family, according to a letter this week seen by Reuters.

Four Democratic senators, led by Elizabeth Warren, earlier this month demanded details from Deutsche Bank Chief Executive Christian Sewing about the bank's interaction this year with Trump and his family's companies. (https://www.warren.senate.gov/imo/media/doc/2020.04.07%20Letter%20to%20Deutsche%20Bank%20re%20Trump%20Org.pdf)

The bank is one of the largest creditors for Trump's hotels, golf courses and other properties, according to filings. The senators are concerned the bank may be giving the family preferential treatment on loan repayments in the wake of the coronavirus outbreak as Deutsche Bank itself remains under investigation by the U.S. Department of Justice.

Deutsche's counsel rejected the senators' request on privacy grounds, according to the letter dated April 21 seen by Reuters.

"We hope that you will understand Deutsche Bank's need to respect the legal, as well as contractual, boundaries that exist with respect to such confidential information," the bank's law firm, Akin Gump, wrote.

Deutsche "must answer our questions", Warren said in an emailed statement to Reuters on Saturday.

"It's outrageous we don't know what secret favors the President and his family might be getting from the bank, or what favors the bank may be getting in return," she said.

Senator Chris Van Hollen, who worked with Warren on the request for information from Deutsche, said on Saturday that Deutsche's response was "inadequate and unresponsive".

"The American people deserve answers and anything less is unacceptable," Van Hollen said in an emailed statement to Reuters.

Deutsche Bank declined to comment.

The White House, the Trump Organization, Kushner Companies, and Akin Gump didn't respond to requests for comment outside of business hours.

© Reuters. FILE PHOTO: The logo of Deutsche Bank is pictured on a company's office in London

Next month, the U.S. Supreme Court is scheduled to hear arguments in a case over whether Deutsche must turn over Trump's financial records subpoenaed by two congressional committees.

Latest comments

One of the forex biggest players
Didn't say I trust any politician no matter party affiliation term limits would be a start, lobbying restrictions, back donor bill writers, campaign donations, corporate influence, etc all should be reviewed, thing is all have sinned driven by greed or something, but that includes 99.9% of humanity. Only hope is true salvation
Socialist Democrats have more trust in career politicians who became filthy rich as a politician instead of a man who became rich on his own before ever running for office. The funny thing is that the presidency was Trump’s first ever election. That’s so hilarious, and really proves how fed up with corrupt politicians real Americans actually are.
There is Buzzy again, paid by Trump campaign to respond a lot of ***on every article that is published...
To say that Trump became "rich on his own" definitely needs clarification. Most of what enabled Trump to become rich was money from Daddy. Then, he spent a lifetime of taking advantage of people to gain wealth, stepping on the "the little guy" and refusing to pay up on so many of his contracts. Trump is no better than any corrupt politician. He bullied and litigated his way up, rather than using business expertise.
  - I wish I got paid for this unlike the President who contributes his salary to charity. Do you recall any other president who did the same? Obama? Clinton? No? Oh.
You lost dems give it up Trump has won over and over. You have crossed over to the dark side.
Give Biden's dirty laundry first...then all of Bush's family *******and then we can move forward with Trump!
The issue is not what would or would not the DB provide but How come the President is making himself an exception?
The Obama Administration was the most corrupt and incompetent administration in history.. And that says a lot after the Bushes and Clintons helped sell the country wholesale to China and others..
Boy...if you're worried about corruption.... wait til you hear about the 45th president...
Buzzy, you'll have to do much better than that. Trade deficits do not equate to corruption. A strong dollar naturally leads to trade imbalance, and as long as the US remains the reserve currency of the world, the dollar will tend to be strong.
 - It’s a bit more complicated than you’re capable of grasping. It predominantly liberal globalists who gutted America’s manufacturing capacity, and became filthy rich destroying America’s middle class. This was the Clinton/Obama dream. One world.. no unions.. open borders.. socialism for all.. Full and complete parity across the globe at the expense of American workers. The fascists you so fervently defend almost succeeded. You didn’t expect America would elect someone who disagreed with your one world vision, and that made you really really angry. Didn’t it Adrianne?
How is this a responsible use of taxpayer money? They should see to the needs of the people not continue their insane vendetta against Trump!  Enough of this garbage!!!
Don't be ridiculous. This was started a long time ago, not just a few weeks ago. And it's not like Congress is only focused on 1 thing at a time. They have done plenty of helpful things but you only focus on the things you don't like. (By the way, oversight of the Administration is one of the things they are constitutionally mandated to do).
  - this dem led Congress is the most impotent and useless in history. They’ve accomplished nothing but flail on the ground in a full fit of rage because they’re supreme leader Hillary didn’t win. They are a complete joke, and America know it,
It's absolutely nobody's business what loan agreements are between a bank and anyone they loan to unless fraud has been charged with supporting evidence in a court of law. These leftist haters are *******bent on destroying America any way they can. Banks all over the world are giving preferential treatment to 1000's of their customers in this time of crisis.
It is when you are president and you dont seperate you and your business. That is how you cheat taxes and corrupt.
try again, that was weak...
doesn't matter what DB gives or don't. reality is anyone thinks any politician of any party is clean like an avg Joe is not the brightest one.
I sure hope the Germans are not caving.. or I will close my accounts with them..
of course klaus. u and hasselhoff lol
lmaoooo
Klaus, what are you talking about? Do you honestly think that "the Germans" are in control of how a publicly-traded international corporation responds to information requests?
"I don't understand. What could anyone possibly be worried about????"
Trump has NOT placed his businesses in a blind trust. The majority are in a revocable trust and he is the sole beneficiary. The trust is currently managed by trump family members and a financial officer of his campaign. So he maintains full control of all the assets as it is a revocable trust.
Source?
That might explain his softball soybean trade deals with the Chicoms.  Don the Con is a liar and a fraud.
Ewery one knows he got 2b loan from Deutsche Bank backed by russian invesment bank, Putin him self.
Only you American hating leftists who watch CNN's hateful propaganda "know this".
sanction Germany if they went ahead. they no longer respect us.
if you can't think of any reasons why the united states should be respected I feel sorry for you.
Why sanction Germany? The bank is not a state-owned bank. That's like saying the rest of the world should sanction USA for Boeing's ********up with the 737 Max.
only US has the power to sanction a country, backed by our best military in the world!
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