Comptroller of the Currency Eugene A. Ludwig has come under the scrutiny of a second congressional investigation into alleged campaign finance abuses.

The Senate Governmental Affairs Committee subpoenaed Mr. Ludwig on Feb. 14, seeking information about a White House coffee gathering with President Clinton and 17 bankers that was organized by Democratic Party fund-raisers last spring.

Sen. Fred Thompson, the Tennessee Republican who is chairman of the committee, ordered the comptroller to turn over by March 7 any briefing papers prepared for the White House or the Treasury Department, copies of any damage-control communications between Mr. Ludwig and the White House or the Democratic Party, and records of contacts since Jan. 1, 1996, with the bankers who attended the meeting.

In addition, Mr. Ludwig and other OCC officials must produce records of any events arranged by Democratic and Republican national committees that they attended or were invited to since 1989.

The Senate committee also demanded information on campaign finance activities from 51 other organizations, including the Federal Deposit Insurance Corp.

An FDIC official refused to disclose contents of the agency's subpoena.

This is the second congressional subpoena Mr. Ludwig has been slapped with regarding "Coffeegate."

Rep. Spencer Bachus, chairman of the House Banking Committee's general oversight subcommittee, is also investigating.

The agency on Feb. 6 submitted a stack of documents to the Alabama Republican regarding Mr. Ludwig's attendance at the meeting.

Rep. Bachus on Feb. 13 requested additional details by this Friday.

Separately Tuesday, Rep. Bachus released a letter to Bankers Trust Co. chief executive officer Frank N. Newman asking for information about the White House meeting. The Feb. 14 letter asked for details about Mr. Newman's role in planning the coffee meeting.

Mr. Ludwig has insisted he would not have attended the coffee gathering had he known it was sponsored by Democratic fund-raisers.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.