President Donald Trump, three of his children, and the Trump Organization are suing Deutsche Bank AG and Capital One Financial Corp in an attempt to block the financial institutions from complying with subpoenas issued by U.S. congressional Democrats.
Ian Prior, former Justice Department Deputy Director of Public Affairs under President Trump says the subpoenas are overreach by the House Oversight Committee. “Their job is to oversee how the government functions…not to go back and look at what the president did at his corporation before he became president.”
The complaint was filed Monday night in federal court in Manhattan. It accuses House committee leaders of attempting to gain access to personal financial records for no legitimate reason. However, only banks were named as the defendants at this time.
“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 complaint said.
The lawsuit also accused Democratic leaders of hoping to “stumble upon something they can expose publicly and use as a political tool against the President.”
Prior told Fox Business’s David Asman, “If we start going down that path where the Oversight Committee can start looking into private corporations of politicians…we’re really looking at some problems going forward.”
The lawsuit is the latest in Trump’s battle with the Democratic-led House of Representatives, who were not happy with the findings of Special Counsel Robert Mueller’s inquiry into Russia’s role, in the 2016 election.
“Look, obviously on the collusion and conspiracy piece it was complete exoneration,” Prior continued. “The Mueller report said that Mueller’s team was able to investigate obstruction of justice…there was nothing in Mueller’s report that said Congress should take this up under impeachment hearings.”
The plaintiffs said Deutsche Bank confirmed that the subpoenas it received sought financial information for their “parents, subsidiaries, affiliates, branches, divisions, partnerships, properties, groups, special purpose entities, joint ventures, predecessors, successors or any other entity in which they have or had a controlling interest.”
“If they want to keep their majority longer than two years, they need to tread lightly here,” Prior said.