US President Donald Trump, three of his children, and the Trump Organization filed a federal lawsuit against Deutsche Bank and Capital One to block them from complying with federal subpoenas investigating his financial dealings.

The federal lawsuit was filed in the US District Courts Southern District of New York. It asserted that demands for records by Democrat-controlled House committees have no legitimate or lawful purpose.

“The subpoenas were issued to harass President Donald J. Trump, to rummage through every aspect of his personal finances, his businesses, and the private information of the President and his family,” the lawsuit said.

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It also complained that the Democrats are hoping “they will stumble upon something they can expose publicly and use as a political tool against the President.”

The filing said the two banks have “long provided business and personal banking services” to the Trumps, and the subpoenas, seeking a complete accounting of financial records, are an instance of “remarkable overbreadth.”

It called for a “permanent injunction prohibiting Deutsche Bank and Capital One from disclosing, revealing, delivering, or producing the requested information, or otherwise complying with the subpoenas.”

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The suit which includes the Trump Organization and Trumps three eldest children (Donald Jr, Eric and Ivanka) states that the court has the power to declare the subpoenas invalid.

House Intelligence Committee Chairman Adam Schiff and House Financial Services Committee Chairwoman Maxine Waters released a joint statement calling the lawsuit meritless.

On April 15, Schiff and Waters issued subpoenas to Deutsche Bank (which is one of the Trump Organizations major lenders) and several other financial institutions as part of investigations into Trumps finances.

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Trump sues to block Democrats subpoena to look into his personal finances

“The potential use of the US finRead More