Bank Does Not Have Trump Tax Returns -- WSJ
October 11 2019 - 3:02AM
Dow Jones News
By Corinne Ramey
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (October 11, 2019).
Deutsche Bank AG, President Trump's longtime lender, doesn't
have the president's tax returns that were requested by
congressional subpoenas, a federal appeals court said Thursday
after reviewing an unredacted letter filed by the bank.
The ruling, from the Second U.S. Circuit Court of Appeals in New
York, comes in response to a request by news organizations,
including Dow Jones & Co., the publisher of The Wall Street
Journal, to unseal that letter.
In the ruling, the three-judge panel denied the request to
unseal the letter but commented on the redactions. "That letter
reports that the only tax returns it has for individuals or
entities named in the subpoenas are not those of the President,"
U.S. Circuit Judge Jon Newman wrote.
In April, Mr. Trump and his family sued Deutsche Bank and
Capital One Financial Corp. in an attempt to block congressional
subpoenas. The House Intelligence and Financial Services committees
earlier that month had subpoenaed the banks for tax returns and
financial records related to Mr. Trump, his children Donald Trump
Jr., Eric Trump and Ivanka Trump, and their various business
entities.
The district court judge declined to temporarily block the
subpoenas, leading Mr. Trump to appeal. A decision on the subpoenas
is currently pending before the appeals court.
In a letter in August, lawyers for Deutsche Bank told the
appeals court that it had tax returns for two people or entities
sought by the subpoenas. Those two names were redacted in the
public version of the letter, prompting speculation one of those
returns could be the president's.
A spokesman for Deutsche Bank declined to comment on Thursday's
ruling beyond saying, "We remain committed to cooperating with
authorized investigations."
A lawyer for Mr. Trump didn't respond to a request for
comment.
The Deutsche Bank case is one of several lawsuits over subpoenas
for Mr. Trump's tax returns currently making their way through the
courts. Later this month, the same appeals court in New York is
scheduled to hear arguments in a dispute between Mr. Trump and the
Manhattan district attorney's office over a subpoena for his tax
returns and other financial information.
Write to Corinne Ramey at Corinne.Ramey@wsj.com
(END) Dow Jones Newswires
October 11, 2019 02:47 ET (06:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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