Trump suffers another big legal loss -- court rejects his stonewalling of financial records subpoena

The United States District Court for the District of Columbia on Friday dealt President Donald Trump a significant legal blow.

As reported by BuzzFeed News' Zoe Tillman, the court rejected an appeal from the president's lawyers that sought to block a subpoena from the House Oversight Committee of the president's financial records.

The House Oversight Committee earlier this year filed a subpoena with Mazars USA LLP, which has long served as Trump's accounting firm, for the president's tax returns. The president's legal team responded by suing the House Oversight Committee and seeking a permanent injunction against the subpoena.

So far, the Trump legal team has failed to convince judges in two courts that the committee's subpoena should be blocked.

Politico reporter Andrew Desiderio writes on Twitter that the case could go to the Supreme Court, but he thinks it's unlikely that SCOTUS would overturn these two rulings.

The bottom line, he argues, is that "Mazars will now likely be forced to turn over Trump’s financial records to House Democrats."