U.S. legislation does not permit Deutsche Bank to satisfy its request on President Donald Trump’s ties with Russia, submitted by U.S. Democratic Party, as a special warrant is required for it, RNS reports quoting Reuters.
The largest bank of Germany claimed in the letter to five representatives of the Democratic Party that the federal laws, relating to confidentiality issues, prohibit it from sharing data about the transactions of Donald Trump and his family.
“We hope that you will understand that Deutsche Bank must observe the norms, which the Congress and the courts set for protection of confidential information”, Akin Gump Strauss Hauer&Feld lawyers replied in the letter.
Previously, several representatives of the Democratic Party from U.S.House of Representatives Financial Services Committee sent to the chief executive of Deutsche Bank John Cryan a letter, requesting to provide information on possible Russian government support of loans, disbursed to Trump for his real estate transactions.
The letter also featured a request to provide information on the trade scheme with the use of securities, which, according to U.S. government, allowed withdrawing USD 10 bln from Russia. The legislators initially demanded from Deutsche Bank to reply until June 2, but the German bank asked for more time.
