Via Financial Times

Donald Trump suffered yet another legal defeat on Tuesday in his battle to protect his finances from scrutiny as Deutsche Bank was ordered to disclose his records to Congress.

The decision on Tuesday by a federal appeals court in New York adds to a string of cases that will probably be ultimately decided by the Supreme Court, which Mr Trump has asked to support his claims of immunity from investigation.

Mr Trump has seven days to appeal the panel’s ruling, which rejected the president’s bid to block subpoenas from the Democrat-led House intelligence and financial services committees.

“The public interest in vindicating the committees’ constitutional authority is clear and substantial,” wrote Jon Newman, a senior judge on the Second Circuit Court of Appeals.

Jay Sekulow, an attorney for Mr Trump, said: “We are evaluating our next options including seeking review at the Supreme Court.” The president has already appealed two other court decisions involving his financial records to the Supreme Court.

Democrats issued the subpoenas in April to Deutsche Bank and Capital One as part of their investigations into illicit money flows and foreign influence in US politics. Mr Trump sued the lenders to block their compliance with the orders.

The subpoenas cover a broad swath of financial records relating to Mr Trump, his family and his companies. Both Deutsche Bank and Capital One have said they do not hold Mr Trump’s tax returns, but the German bank said it does have some tax returns for other individuals or entities covered by the subpoena.

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A Deutsche Bank spokesperson said on Tuesday the lender was “committed to providing appropriate information to all authorised investigations and will abide by a court order regarding such investigations”. Capital One declined to comment.

Mr Trump is battling Congress in a separate case in which the House oversight committee sought his tax records from Mazars USA, the president’s accountant. The Supreme Court issued a stay of the Democrats’ subpoena in that case while it considers a forthcoming appeal.

He is also fighting the Manhattan district attorney’s office, which has sought records from Mazars as part of a criminal investigation it is conducting. Mr Trump has appealed that case to the Supreme Court.

Across the cases, Mr Trump has asserted a broad view of presidential immunity from scrutiny and challenged the right of Congress or prosecutors to investigate him. He has been supported, to varying degrees, by the US Department of Justice.

Mr Trump’s arguments have largely been rejected by the courts so far, with some judges arguing they run against fundamental constitutional principles.

The Supreme Court, which has a 5-4 conservative majority, including two of Mr Trump’s appointees, has yet to announce whether it will take up the cases but has been urged by the president to rule in his favour.