Deutsche Bank Turns Down U.S. Senators' Bid for Trump Details
Deutsche Bank AG has turned down a request by four U.S. senators including Elizabeth Warren to release details about the lender’s contacts with the family business of President Donald Trump, which asked the bank for leniency on some of its loans.
In a letter to Deutsche Bank earlier this month, Democratic senators Richard Blumenthal, Sherrod Brown, Chris Van Hollen and Warren, the one-time presidential candidate, said that contact between the Frankfurt-based lender and the Trump Organization raises “troubling new concerns about the extent to which Deutsche Bank holds financial leverage over the president,” and whether administration officials would offer “regulatory favors” as enticement.
On behalf of Deutsche Bank, law firm Akin Gump Strauss Hauer & Feld LLP responded in a letter dated April 21 and obtained by Bloomberg, saying that “there is a critical legal distinction between inquiries conducted pursuant to congressional rules adopted by duly authorized committees, on the one hand, and informational requests made by individual members, on the other.”
Deutsche Bank needs to respect the legal and contractual boundaries that exist with respect to confidential information, it said.
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