Deutsche Bank Doesn’t Have Trump’s Tax Returns, Court Says

(Bloomberg) -- Deutsche Bank AG said it doesn’t have President Donald Trump’s tax returns, though it does have records for two family members, a federal appeals court confirmed.

A panel of judges in New York on Thursday denied a bid by news organizations to unseal a filing from Deutsche Bank detailing whose returns it has, saying that because they aren’t the president’s, they aren’t relevant to any issue the court has to decide.

Trump, his children Donald Jr., Eric and Ivanka, and his businesses sued Deutsche Bank and Capital One Financial Corp. in April to block them from turning over financial information to the U.S. House of Representatives, which demanded them. A federal judge in May ruled against Trump, who then appealed. Congressional Democrats, who have begun an impeachment inquiry since they issued the subpoenas, say they need the records to determine whether Russia has leverage over Trump or his family.

The appeals court still has to determine whether the banks must comply with the subpoenas.

Deutsche Bank said last month that it had tax returns of two Trump family members but declined to give their names. Capital One has said it doesn’t have any returns sought by the subpoenas.

Trump’s suit is part of a broader effort by the president to push back at House investigations as he runs for re-election next year.

The case is Trump v. Deutsche Bank AG, 19-1540, U.S. Court of Appeals for the Second Circuit (Manhattan).

To contact the reporter on this story: Chris Dolmetsch in Federal Court in Manhattan at cdolmetsch@bloomberg.net

To contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Peter Jeffrey

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