Deutsche Bank refuses to forward the details of new business dealing with President Donald Trump and his family companies.
Frankfurt: Deutsche Bank has disagreed with the request forwarded by U.S. Senators to provide details about the German Lender’s recent business dealings with President “Donald Trump” regarding a letter seen by Reuters.
“Elizabeth Warren,” the United States senator, had demanded details from the Bank chief executive “Christian Sewing,” about the Bank’s interactions with President Trump and his family’s companies.
Deutsche is one of the largest creditors for Trump’s properties, according to filings. The senators are concerned that the Bank could give special considerations for the loan payments in the back of the Coronavirus outbreak. Deutsche Bank itself remains under investigation by the U.S. Department of justice.
Deutsche’s counsel, in the letter dated April 21, rejected the senator’s request on privacy grounds.
“We hope that you will understand Deutsche Bank’s need to respect the legal, as well as contractual, boundaries that exist with respect to such confidential information,” the Bank’s law firm, “Akin Gump,” wrote.
Deutsche Bank declined to comment.
The U.S. Supreme Court is scheduled to hear arguments in a case over whether Deutsche must turn over Trump’s financial record subpoenaed by two congressional committees.