WASHINGTON — Democrats are ramping up the pressure on House Financial Services Committee Chairman Jeb Hensarling, R-Tex., to compel Deutsche Bank to release information related to an internal investigation tracing alleged financial ties between Russian nationals and President Trump.

The latest effort includes a letter from the top Democrat on the panel, Rep. Maxine Waters of California, who notes that Hensarling has the “unilateral authority to compel Deutsche Bank to produce the information we requested through the issuance of a subpoena.”

Representative Maxine Waters, a Democrat from California and ranking member of the House Financial Services Committee.
The House Financial Services Committee has repeatedly subpoenaed the CFPB, but not Deutsche Bank, over alleged financial ties between Russian nationals and President Trump, said Rep. Maxine Waters, D-Calif. Bloomberg News

The letter, which was also signed by other Democrats on the panel including Reps. Dan Kildee of Michigan, Gwen Moore of Wisconsin, Al Green of Texas and Ed Perlmutter of Colorado, says that Hensarling has “routinely” issued subpoenas against agencies like the Consumer Financial Protection Bureau.

“It is in furtherance of this committee’s oversight responsibilities that we call on you to commence an investigation and to use your subpoena powers to obtain the documents that Deutsche Bank is currently withholding from the committee,” the letter said.

Hensarling to date has resisted Democrats' calls, while Trump has repeatedly denied any improper relationship with Russia. Deutsche Bank has been accused of helping Russian nationals engage in money laundering activities while also providing loans to Trump.

The bank has reportedly conducted internal audits of its alleged role in money laundering, for which it has paid $600 million in fines to regulators, as well as analyzed the accounts of Trump and his family. Since March, Waters has repeatedly sought access to those documents, but has been rebuffed by the bank and Hensarling.

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