Deutsche Bank won’t comply with a request to hand over information relating its relationship with Donald Trump and trades from the bank’s Moscow operation as political opponents seek to probe the U.S. president’s links with Russia.
Bloomberg News reports that the lender is required by law to maintain confidentiality of non-public customer information, Deutsche Bank lawyers said in a letter responding to a request from five Democratic Party lawmakers to hand over its findings on loans made to Trump and trades from Moscow. Known as the “mirror trading” scandal, the trades helped move about $10 billion out of the country.
“Deutsche Bank, like other financial institutions, is not permitted to disclose details related to its customers,” lawyers Steven R. Ross and Leslie B. Kiernan of Akin Gump, said in a letter published on the bank’s website Friday. “This is true even if the individual is a government official or well-known person, and even in circumstances where the individual has made some disclosure regarding their relationship with their banking institution.”
Hit the link below to access the complete Bloomberg News article: