Deutsche Bank is to give information to the Democrats on a U.S. of House of Representatives panel, if President Donald Trump has ties to Russia, adding dimension between Moscow and Trump connections.
On Wednesday, Democrats on the U.S. House Financial Services Committee said they sent a letter to John Cryan, Deutsche Bank Chief Executive Officer, the previous day seeking details of internal reviews determining if Trump’s loans for his real estate business were backed by the Russian government.
The congressional inquiry seeks information about a “mirror trading” scheme that permitted $10 billion to flow out of Russia. “Congress is in the dark on whether Deutsche Bank gave loans to President Trump were guaranteed by the Russian government, or was it a way of staying connected to Russia,” the Democrats wrote. “It is crucial to provide this committee with the essential information to assess the scope, findings and conclusions of your internal reviews.”
The Democrats requested from the bank relevant documents, but this cannot be compelled to hand over the information. The committee has the power to subpoena the documents, and it requires cooperation from committee Republicans who make up the panel majority because the party can control the House. However, no Republicans signed on to the document request.
The Democrats called for the bank to hand over documents tied to internal reviews of Trump’s personal accounts at the bank. They informed the bank that it should publicly state that it had reviewed the “mirror trading” scheme and Trump’s accounts.
They also called on the bank to give an independent auditor to verify the reviews results so that it is turned over to the committee “as soon as reasonably practicable.”