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House Dems subpoena nine major banks as part of deep dive into Trump’s finances

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Democrats in the House of Representatives have leveled subpoenas against nine different major banks as part of their investigation into President Donald Trump’s finances.

The Wall Street Journal reports that the Democrats have subpoenaed American banks JPMorgan Chase, Citigroup, Morgan Stanley, Wells Fargo, and Bank of America as well as foreign banks Deutsche Bank, Royal Bank of Canada and Toronto-Dominion Bank.

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Deutsche Bank figures to be the bank of most interest to investigators, as it was the only major bank by the late 1990s that was willing to make major loans to Trump after a string of bankruptcies made him toxic to most of Wall Street.

“Since 1998, the bank has led or participated in loans of at least $2.5 billion to companies affiliated with Mr. Trump,” the Journal notes.

Additionally, Deutsche Bank has found itself caught up in a massive Russian money-laundering scandal — and a leaked internal memo obtained by The Guardian this week showed that the bank is concerned that regulators in the United States and the United Kingdom could bring the hammer down for helping Kremlin-linked Russian criminals move dirty money into the global financial system.

“The potential use of the U.S. financial system for illicit purposes is a very serious concern,” House Financial Services Committee chairwoman Maxine Waters (D-CA) said this week. “The Financial Services Committee is exploring these matters, including as they may involve the President and his associates, as thoroughly as possible pursuant to its oversight authority, and will follow the facts wherever they may lead us.”

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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Texas governor busted sending racist call-to-arms a day before El Paso attack: ‘take matters into our own hands’

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On Thursday, Gov. Greg Abbott (R-TX) tweeted out a message of unity and promised to work to reduce violence in his state, in the wake of the shooting in El Paso that left 22 dead and dozens more injured:

Today we had hearings responding to the tragic shooting in El Paso.

We focused on community healing, combating domestic terrorism, reducing hateful ideologies, & keeping guns out of hands of deranged killers while respecting 2nd Amendment rights.

We’ll keep TX safe.#txlege pic.twitter.com/ymct4aiSgK

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Facebook bans far-right website from pro-Trump advertising after they try to skirt transparency rules

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On Thursday, NBC News reported that Facebook has banned the Epoch Times from placing political advertisements, after the right-wing website tried to conceal its multimillion-dollar dark money streams and get around the social network's political advertising transparency rules in its propaganda supporting President Donald Trump.

The Epoch Times had tried to skirt rules by running ads under puppet names like "Honest Paper" and "Pure American Journalism," confusing users about who was really behind the ads.

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GOP leaders are pressuring Kansas Republican to resign from Congress immediately: report

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On Thursday, the Topeka Capital-Journal reported that Republicans in Kansas and Washington are pressuring Rep. Steve Watkins (R-KS) to step down after just eight months in office.

It is currently unclear why they are calling for his resignation.

Watkins has thus far given no indications he will leave office. His spokesman Jim Joice stated that he has no plans to resign, and disputed the idea that Republican officials are pressuring him to do so, but acknowledged there have been conversations around the topic.

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