Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Deutsche Bank Refuses to Provide Senators With Trump's Transactions


Sun 26 Apr 2020 | 02:02 AM
Taarek Refaat

Deutsche Bank rejected a request from prominent members of the US Senate to provide information about the recent commercial transactions of the German lender with President Donald Trump and his family, according to a letter seen by Reuters this week.

Earlier in April, some democratic Senators, including Elizabeth Warren, requested details from Deutsche's Executive Christian Sewing, about the bank's interaction with Trump and his family firms.

Senators are concerned that the bank may give the Trump family preferential treatment over loan repayments following the COVID-19 outbreak as Deutsche himself remains under investigation by the US Department of Justice.

The bank is one of the biggest creditors of Trump hotels, golf courses and other property, according to the deposits.

Deutsche's attorney, in the letter, rejected the senators request for privacy reasons.

"We hope you understand Deutsche Bank's need to respect the legal and contractual limits that exist in relation to this confidential information," wrote Akin Gump, the bank's law firm and Deutsche Bank declined to comment.

The White House, Trump, Kushner companies, Akin Gump and Senator Warren also did not respond to requests.

In May, the US Supreme Court is due to hear in the case over whether Deutsche should hand over Trump's financial records that were summoned by both congressional committees.