Deutsche Bank tells federal court it can turn over Trump's tax returns to House Democrats: report

On Tuesday, CNN reported that Deutsche Bank, a longtime creditor of President Donald Trump, has informed a federal judge that it possesses tax returns from the president and can hand them over to House Democrats to comply with their subpoena.

It remains unclear whether the courts will allow this, and if so, at what time it will take place.

House Democrats have sought to obtain Trump's tax returns for months, as part of their oversight role, in response to concerns that the president has conflicts of interests with his family business. The Trump administration has asserted that there is not a legitimate legislative purpose for this request, and has fought the release of these documents at every turn.

Watch CNN reporter Joey Jackson walk through the legal significance of the development: