The House Intelligence and Financial Services committees had issued subpoenas to several banks as part of their investigations of alleged foreign influence on USA elections. Several weeks later, Trump hit back with a lawsuit that seemed to profess a sense of victimhood.
The decision in the U.S. District Court for the Southern District of NY states means that Deutsche Bank and Capital One can hand over the president's financial records to Democrats in the House.
The hearing occurs after congressional Democrats sought the information from Deutsche Bank and Capital One.
If the Circuit Court declines the motion to expedite, the Trump team said it would file a prompt request to put Judge Mehta's ruling on hold during an appeal and the House committee said it would not try to enforce its subpoena until the delay request was decided by the court.
The resistance from Trump officials has been fierce.
Attorneys for the Trumps argued that the congressional subpoenas were politically motivated and had no legitimate legislative cause.
"He clearly sees us as some sort of nuisance", Letter said.
But there was one bank that didn't run away.
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A second federal judge has now rebuffed President Donald Trump's sweeping attempt to block House lawmakers from accessing his financial records, handing him another defeat in a fight that has infuriated the President and opened deep rifts with Democrats.
"That power is broad.' So he's ruling unequivocally that Congress has a right to the documents that the banks have, Deutsche Bank and Capital One, banks that Donald Trump and his family members have done business with for years", she added.
The banks are the only defendants in the case, but the House committees have intervened to oppose Trump's effort to block the subpoenas. The court called for oral arguments by July, and Democrats have agreed to suspend deadlines from the subpoena.
House Democrats were quick to send along the potentially persuasive ruling to Judge Edgardo Ramos, who will be presiding over Wednesday's hearing.
The move could mean that Deutsche Bank and Capital One, two banks that Trump has borrowed millions of dollars from, may be forced to release their documents on the president.
Lawyers for President Trump said it is a "safe bet" they would appeal.
After a brief recess, Ramos read his lengthy decision from the bench.
"The judge asked the lawyer for the president if what he was going to do in this matter, and he said that he would consult with his client".