Trump sues banks to block financial records release

Washington: US President Donald Trump; his children Donald Jr., Eric and Ivanka; and his business are suing two banks to block them from turning over his financial records to congressional committees that have issued subpoenas for the information.

It's the second attempt in court that Trump has made this month to thwart the Democratic-led House of Representatives from investigating his financial history, CNN reported.

The legal action, filed in New York's Southern District on Monday, is against Deutsche Bank, one of Trump's lenders, and Capital One. 

Both banks "have long provided business and personal banking services to plaintiffs", Trump's attorneys said.

"The subpoenas were issued to harass President Donald Trump, to rummage through every aspect of his personal finances, his businesses, and the private information of the President and his family, and to ferret about for any material that might be used to cause him political damage. No grounds exist to establish any purpose other than a political one," the attorneys wrote in the complaint.

The attorneys -- Will Consovoy, Patrick Strawbridge and Marc Mukasey -- said the lawsuit is meant to protect Trump, his family and his business.

Deutsche Bank said in a statement it will comply with all subpoenas and court orders.

"We remain committed to providing appropriate information to all authorized investigations and will abide by a court order regarding such investigations," the statement read.

Last week, CNN reported that the bank was complying with a subpoena from New York Attorney General Letitia James for documents related to loans made to Trump and his business. 

The bank is in the process of turning over documents, including emails and loan documents, related to Trump International Hotel in Washington, DC; the Trump National Doral Miami; the Trump International Hotel and Tower in Chicago; and the unsuccessful effort to buy the NFL's Buffalo Bills.

Capital One is yet to comment on the development.

Last week, the Treasury Department missed a deadline to turn over six years of the President's tax returns to the House Ways and Means Committee.