Democrats Renew Push to Probe Deutsche Bank Russia Scandal

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Democrats Renew Push to Probe Deutsche Bank Russia Scandal

Bloomberg

  • Waters writes letter to GOP chief of House finance committee
  • Lawmakers seek information on mirror trades, loans to Trump

A handful of Democratic lawmakers have renewed their effort to get a powerful House Republican to investigate Deutsche Bank AG’s loans to President Donald Trump and the bank’s role in helping Russians move billions of dollars from Moscow to the west.

In a letter to Jeb Hensarling of Texas, chairman of the House Financial Services Committee, Representative Maxine Waters of California, the committee’s ranking Democrat, urged him to issue subpoenas to Deutsche Bank. She wants to force the German lender to disclose its internal review of the so-called “mirror-trading” scandal that has cost the bank more than $600 million in fines and penalties, and a separate review it conducted concerning Trump, who borrowed more than $300 million in real estate loans years before running for office.

How ‘Mirror Trades’ Moved Billions From Russia: QuickTake Q&A

This is Waters’s fourth attempt to investigate Deutsche Bank. She first urged Hensarling to start a probe in March. In the absence of a response, she then wrote to Deutsche Bank’s chief executive officer, John Cryan, in May, demanding documents and records connected to the Russian scandal and the president’s accounts. The bank declined, saying it could turn over sensitive records only in response to a congressional subpoena, issued by the head of a committee.

Last month, Waters used a parliamentary maneuver to force a response from Hensarling. Republicans voted down the motion.

Democrats’ Letter

“The fact…Read More

Lakeem Khodra
Lakeem Khodra
News Writer/Contributor at Tyranny News @lakeemk

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