Congress Has Trump’s Financial Records From Wells Fargo and TD Bank, and More Could be Coming

Illustration for article titled Congress Has Trump’s Financial Records From Wells Fargo and TD Bank, and More Could be Coming
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President Donald Trump has been trying to keep America out of his financials. But like a good wife who knows that something isn’t right, America has not relented and now two major financial institutions have turned over subpoenaed bank documents to a congressional committee, and a court ruling Wednesday could have more banks doing the same.


According to NBC News, both Wells Fargo and TD Bank, two of the nine banks that do business with the phony billionaire running the country into a Russian urine-soaked mud pit, have “complied with subpoenas issued by the House Financial Services Committee demanding information about their dealings with the Trump Organization.”

All of this must’ve been on the down low since none of these disclosures had previously been reported.

Since neither bank wanted to comment to NBC News for the story, sources told the site that Wells Fargo provided thousands of documents to the congressional group while TD Bank handed a handful of Trump Organization documents over.

The committee, led by Trump’s nemesis and the first Democrat to proclaim she had no intention of “working with that man” Rep. Maxine Waters (D-Calif.), can’t wait to comb over (see what I did there?) the president’s financials to see how far down the Russia rabbit-hole Trump’s business relationships go.

“We don’t have information to share with you at this time about what we’ve learned from the documents,” Waters said during an appearance on MSNBC’s Hardball Wednesday.

On the same day, a federal judge ruled that two other banks—Deutsche Bank and Capital One—can hand over Trump’s financial documents to Congress. Much like rich white people often do, the Trump family sued to try and prevent Congress from finding out through bank records that the president only has $36.45 in his checking account until he gets paid from Russia Herbalife ... It works!


From NBC News:

The documents that have been provided so far are a fraction of those requested by Waters, whose committee has also sent subpoenas to Citigroup, Morgan Stanley, Royal Bank of Canada, Bank of America and JP Morgan Chase. The Royal Bank of Canada is in the process of complying with the subpoena, according to a source. The other banks have missed the subpoena deadline of May 6.

The development comes as House Democrats are internally debating whether to move forward with launching an impeachment inquiry of the president or not.

Deutsche Bank has been the Trump Organization’s biggest lender, financing more than $2 billion in loans to the president during his business career, and he still owes the bank at least $130 million, according to Trump’s latest financial disclosures.

The subpoenas, details of which have not been released to the public, are predicated on the notion that Congress has access to the information under the Bank Secrecy Act, which allows Congress access to financial information to search for money laundering, according to a person who has seen them.


“The potential use of the U.S. financial system for illicit purposes is a very serious concern,” Waters said in April when she issued the subpoenas, NBC News reports.

“The Financial Services Committee is exploring these matters, including as they may involve the President and his associates, as thoroughly as possible pursuant to its oversight authority, and will follow the facts wherever they may lead us.”


We can score this one as a small victory for House Democrats who’ve been embroiled in battles with the White House over the president’s financial information. And it appears that they could be receiving even more of the president’s bank records. NBC reports that earlier this week, “U.S. District Judge Amit Mehta said that Congress has the legal authority to request information from the president’s personal accounting firm Mazars USA.”

We have it on good authority that after learning that portions of his financial documents had been released to House Democrats, the president, who was gearing up for his coffin-slumber in the presidential basement, didn’t drink his warm cup of melted rat fur; instead, he ran into a guest chamber and hugged his shirtless Vladimir Putin jiu-jitsu action figure until he went to sleep.

Senior Editor @ The Root, boxes outside my weight class, when they go low, you go lower.


As someone who worked at Deutsche Bank from 2005-2009 I can tell you that when the loans to his fat ass were approved those that did were fired. The word on the street was to under no circumstances loan his ass a dime. This is an exact quote from my boss at Citibank, I worked in the private bank from 97-01, “No one at this bank better ever loan that low level cocksucker a dime. If they do I will see to it that they no longer work here or anywhere in finance.” No he was not joking or being hyperbolic. Trump didn’t just burn bridges he napalmed them. Contrary to what everyone thinks, Wall St hates his ass and would like nothing more than to see him gone and in jail.