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Justice Ginsburg places hold on Democrats’ subpoenas seeking President Trump’s financials

Supreme Court Justice Ruth Bader Ginsburg has placed a temporary stay on a lower court’s order for two institutions to hand over President Donald Trump’s financial records to Congress in accordance with subpoenas from House committees led by Democrats.

What are the details?

Reuters reported Ginsburg placed the Dec. 3 ruling on hold until Dec. 13, granting the president’s lawyers further time to issue an appeal and fight Democrats’ efforts to obtain “records of accounts, transactions and investments linked to Trump, his three oldest children, their immediate family members and several Trump Organization entities.”

The earlier ruling required Deutsche Bank and Capital One Financial Corp. to comply with the subpoenas from the House of Representatives Financial Services Committee chaired by Rep. Maxine Waters (D-Calif.) and the Intelligence Committee led by Rep. Adam Schiff.

The congressional panels issued the subpoenas to the banks back in April, according to the Washington Examiner.

The Hill reported that both committees “are investigating Trump’s relationship with Deutsche Bank, which had given him $2 billion in loans and is reportedly being investigated for its role in [a] money-laundering scheme involving Russia.”

The outlet went on to note that this is the third case involving President Trump’s financials to reach the high court. Previously, the justices granted a stay of a subpoena from the House Oversight Committee seeking records from the president’s accounting firm.

President Trump’s lawyers argued the subpoenas are “extraordinarily broad,” and raise “profound separation-of-powers concerns,” according to CNN.

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