Democrats subpoena banks as they investigate Trump finances

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President Donald Trump speaks at Nuss Truck and Equipment in Burnsville, Minn., Monday, April 15, 2019, during an event to tout the 2017 tax law. (AP Photo/Susan Walsh)

Two House committees have subpoenaed Deutsche Bank and several other financial institutions as part of investigations into President Donald Trump’s finances.

The House financial services and intelligence panels issued the subpoenas Monday, according to Intelligence Committee Chairman Adam Schiff. He says the subpoenas are part of an investigation “into allegations of potential foreign influence on the U.S. political process.”

The California Democrat did not name the other financial institutions.

House Financial Services Committee Chairwoman Maxine Waters, also a California Democrat, says “the potential use of the U.S. financial system for illicit purposes is a very serious concern.” She says her committee is looking into those matters, including whether they pertain to Trump.

The investigations are among several House Democrats are conducting into aspects of the president’s personal and political life.

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