Trump sues Deutsche Bank, Capital One to block House subpoenas

President Donald Trump and his family are suing Deutsche Bank and Capital One to block subpoenas issued by House Democrats seeking Trump’s financial records.

In the federal lawsuit filed Monday in New York, Trump’s lawyers argued that the subpoenas serve “no legitimate or lawful purpose.”

"The subpoenas were issued to harass President Donald J. Trump, to rummage through every aspect of his personal finances, his businesses, and the private information of the President and his family, and to ferret about for any material that might be used to cause him political damage,” the lawsuit contends. "No grounds exist to establish any purpose other than a political one.”

The lawsuit, seeking to invalidate subpoenas issued by the House Financial Services and Intelligence Committees, is the latest escalation in Trump’s fight against mounting House investigations into his administration, presidential campaign and business empire. In recent days, Trump has vowed to fight all congressional subpoenas, accusing Democrats of trying to sully his presidency altogether.

In a joint statement, House Financial Services Chair Maxine Waters (D-Calif.) and House Intelligence Chair Adam Schiff (D-Calif.) said it was a "meritless lawsuit" that was not designed to succeed — but was "only designed to put off meaningful accountability as long as possible.“

"As a private businessman, Trump routinely used his well-known litigiousness and the threat of lawsuits to intimidate others, but he will find that Congress will not be deterred from carrying out its constitutional responsibilities," they said.