Democrats have asked the Federal Reserve to investigate President Trump’s Deutsch bank ties.
As reported by thehill.com
A group of seven Senate Democrats asked the Federal Reserve on Thursday to investigate whether Deutsche Bank managers declined to report to the federal government suspicious transactions involving accounts held by President Trump and his son-in-law and senior adviser Jared Kushner.
The New York Times reported last month that senior Deutsche Bank wealth management officials repeatedly ignored requests from internal anti-money laundering watchdogs to file suspicious activity reports on transactions conducted by Trump, his businesses and Kushner.
In a Thursday letter to Federal Reserve Chairman Jerome Powell and Federal Reserve Bank of New York President John Williams, the seven Democratic senators asked for an investigation into the allegations raised in the Times article.
“We urge you to undertake a thorough evaluation of the Bank’s compliance with Bank Secrecy Act and Anti- Money Laundering regulations with respect to the Trump and Kushner-related activities identified by Deutsche Bank compliance staff as suspicious,” the senators wrote.
The letter was spearheaded by Sen. Chris Van Hollen (D-Md.) and co-signed by Democratic Sens. Sherrod Brown (Ohio), Jack Reed (R.I.), Bob Menendez (N.J.), Elizabeth Warren (Mass.), Catherine Cortez Masto (Nev.) and Tina Smith (Minn.), all members of the Senate Banking Committee.
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