07 Jun 2019
A group of U.S. Senate Democrats is urging the Federal Reserve to investigate Deutsche Bank AG’s relationship with President Donald Trump and his son-in-law and adviser Jared Kushner.
The lawmakers, led by Senators Chris Van Hollen and Sherrod Brown, the senior Democrat on the Senate Banking Committee, said news reports of potentially suspicious transactions at the bank involving Trump business entities merit further examination.
The New York Times reported on May 19 that anti-money laundering specialists at the bank were overruled by executives after recommending several transactions involving entities controlled by Trump or his family be reported to the government as suspicious. The bank denied the report at the time, as did Trump in a tweet.
The bank declined to comment on Thursday’s letter, and the White House did not immediately respond to a request for comment. The Republican Trump is a New York businessman-turned-politician whose first elected office is the presidency.
The senators ask the Fed if any of their staff met with bank whistleblowers identified in the Times story or uncovered other information related to the accusations. The Fed said it had received the letter and planned to respond.
By Pete Schroeder, Reuters, 6 June 2019
Read more at Reuters
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