US House panels issue subpoenas to financial institutions in Trump probe

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US House panels issue subpoenas to financial institutions in Trump probe
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US House committees issue subpoenas to multiple financial institutions for probe on President Trump’s finances

US President Donald Trump waves prior to departing on a trip to Wisconsin from the White House in Washington, US., October 24, 2018.

“The potential use of the US financial system for illicit purposes is a very serious concern. The Financial Services Committee is exploring these matters, including as they may involve the president and his associates, as thoroughly as possible,” the committee’s chair, Maxine Waters, said in a statement.

A 2018 financial disclosure form showed liabilities for Trump of at least $130 million to Deutsche Bank Trust Company Americas, a unit of the German bank. They are for properties including the Trump International Hotel in a former post office in Washington. Schiff said Deutsche bank had been cooperative. “We look forward to their continued cooperation and compliance,” he said.

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