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Obey Congress or Trump? Deutsche Bank, Capital One in no-win situation

May 01, 2019 - American Banker

WASHINGTON - No financial institution envies the dilemma Duetsche Bank and Capital One are in this week, with House Democrats ordering them to share records of the Trump Organization's business dealings, and now the Trump administration suing both banks to block the congressional subpoena.

The companies are in a lose-lose situation. Congressional subpoena powers are sweeping, so a denial of the lawmakers' request seems unlikely. But obeying the subpoena means disclosing confidential inform...