Young Journalists Club | Latest news of Iran and world

News ID: 45853
Publish Date: 10:37 - 26 April 2020
Tehran 26 April _ The Germany-based Deutsche Bank has reportedly rejected a request by prominent American senators to provide information regarding recent business dealings between the major multinational financial and lending institution and US President Donald Trump and his family.

Deutsche Bank refuses to give US MPs info on recent Trump dealingsTEHRAN, Young Journalists Club(YJC)--Four Democratic senators, led by Massachusetts lawmaker and former presidential candidate Elizabeth Warren, earlier this month demanded details from Deutsche Bank Chief Executive Christian Sewing about the bank's interactions this year with Trump and his family's businesses, according to a letter this week cited in a Reuters report on Saturday.

According to the filings cited in the report, the international bank is one of the largest creditors for Trump’s hotels, golf courses and other properties.

The US legislators are concerned that the German bank may be offering the family preferential treatment on loan repayments in the wake of the coronavirus outbreak as Deutsche Bank itself remains under a legal probe by the US Department of Justice.

The attorney for the global lender denied a request by the senators on privacy grounds, according to the letter dated April 21.

 “We hope that you will understand Deutsche Bank’s need to respect the legal, as well as contractual, boundaries that exist with respect to such confidential information,” said the letter prepared by the bank’s law firm, Akin Gump.

This is while Maryland Senator Chris Van Hollen, one of the three senators who authored the original letter along with Warren, described the Bank’s response on Saturday as “inadequate and unresponsive.”

“The American people deserve answers and anything less is unacceptable. I will continue to push for truth and transparency,” Van Hollen underlined in an emailed statement to Reuters.

Deutsche Bank has so far refused to comment on the development.

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