Recently, the U.S. President Donald Trump with his three children and the real estate company—the Trump Organization—sued Capital One and Deutsche Bank, in a bid to stop the two from replying to congressional subpoenas, as per to a court filing. Previously in this month, the U.S. House circulated a subpoena to Deutsche Bank and in January, the German bank had stated that it had obtained inquiries from Democrat-powered committees regarding its links to Trump. In the objection filed, the president’s team claimed that his political opponents ruling the House Committee on Financial Services are on a fishing mission.
The complaint stated, “This case engages Congressional subpoenas that have no lawful or legitimate purpose. The subpoenas were circulated to pester President Trump, to fumble through every feature of his businesses, private finances, and the private data of the President and his family, and to dig out about any material that may be utilized to cause him political harm. No reasons are there to establish any motive other than a political one.” The filing reported the two banks had “offered personal banking services and business” to the Trumps, and the subpoenas searching a complete accounting of monetary records are an example of “remarkable overbreadth.”
Recently, Deutsche Bank was in news for disagreeing with analysts regarding investment bank’s role. The prospect of Deutsche Bank’s investment bank is forming the key issue as analysts, executives, and financiers regroup after the collapse of merger discussions with Commerzbank. The analysts are requesting Germany’s biggest bank to consider more essential changes to the securities division, with Citigroup calling it the “only alternative left.” Christian Sewing—Chief Executive Officer of Deutsche Bank—and Paul Achleitner—Supervisory Board Chairman of Deutsche Bank—had pleaded for additional time to execute their existing strategy.