Max­ine Wa­ters vows scru­tiny of Trump-Deutsche Bank ties

Business Standard - - WORLD - KEVIN CIRILLI & KIM CHIPMAN BLOOMBERG

Demo­crat Max­ine Wa­ters, in line to take over the House Fi­nan­cial Ser­vices Com­mit­tee, told col­leagues she would un­der­take a deep dive into Pres­i­dent Donald Trump’s “money trail,” be­gin­ning with ties to Deutsche Bank.

In a memo ob­tained by Bloomberg, Wa­ters promised that if she be­comes the next chair of the panel with over­sight over Wall Street she would look at Deutsche Bank and ex­am­ine any so-called sus­pi­cious ac­tiv­ity re­ports filed with the Fi­nan­cial Crimes En­force­ment Net­work.

Wa­ters — of­ten at­tacked by Trump as “low IQ” Max­ine Wa­ters — has long sought to scru­ti­nize the pres­i­dent’s fi­nances. She reached out to col­leagues as she seeks to firm up sup­port for her bid to lead the com­mit­tee.

“With Trump in the White House, I know that our fight for Amer­ica’s con­sumers and in­vestors will con­tinue to be chal­leng­ing,” Wa­ters wrote. “But I am more than up to that fight.”

Wa­ters in memo touts what she says are her prior ac­com­plish­ments and ar­eas of fo­cus, in­clud­ing “hold­ing bad ac­tors ac­count­able.” She also says credit re­port­ing re­form and hold­ing Equifax Inc. “ac­count­able for its mas­sive breach” would be a fo­cus of the com­mit­tee un­der her watch.

Ear­lier this week, Wa­ters told Bloomberg Tele­vi­sion that Deutsche Bank’s lend­ing to Trump is likely to be a fo­cus of scru­tiny for Democrats now that they are set to take con­trol of the House in Jan­uary, gain­ing power to launch in­ves­ti­ga­tions.

Fed­eral law re­quires fi­nan­cial in­sti­tu­tions to file re­ports on a broad range of po­ten­tially sus­pi­cious ac­tiv­i­ties, such as pay­ments of more than $10,000 or in­volv­ing govern­ment of­fi­cials. The fil­ings are con­fi­den­tial and don’t nec­es­sar­ily in­di­cate wrong­do­ing.

Deutsche Bank was one of the few banks “amenable” to pro­vid­ing Trump with fi­nanc­ing be­fore he be­came pres­i­dent, she said in the in­ter­view. “We want to know some things about that.”

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