Former President Donald Trump and House Democrats said in a court filing Monday that they are close to a deal resolving issues surrounding congressional subpoenas of his financial records from Deutsche Bank.
The parties are “continuing to engage in negotiations intended to narrow or resolve their disputes and believe they are close to an agreement,” the filing said. They asked a federal judge in New York for another 30 days to continue negotiations.
The House Financial Services Committee and the House Intelligence Committee subpoenaed Deutsche Bank in 2019, seeking years of the president’s personal and business records. Trump challenged the subpoenas as an intrusion on his powers as president.
Though the U.S. Supreme Court ruled last summer that Congress had the power to seek evidence from the president, it said a lower appeals court failed to adequately consider Trump’s claims the demands were unnecessary and too intrusive.
The subpoenas expired with the last congressional term, but the House has said it intends to issue new ones. A deal on Trump’s Deutsche Bank records could forestall that.
Deutsche Bank declined to comment on the filing. The bank has taken no position on the enforceability of the subpoenas and has said it will follow the law.
House Democrats also engaged in a lengthy court battle with Trump over a subpoena of his tax records. Though Joe Biden’s Treasury Department could comply with congressional requests for the former president’s tax returns, it has repeatedly asked for more time to decide on whether to turn them over.
Trump’s taxes are already in the hands of Manhattan District Attorney Cyrus Vance, whose subpoena of accounting firm Mazars USA was upheld by the U.S. Supreme Court in July after it rejected the then-president’s argument that he was immune from state criminal investigation.
—With assistance from Steven Arons.
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