SCOTUS Temporarily Blocks Subpoenas For Trump's Financial Records

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SCOTUS Temporarily Blocks Subpoenas For Trump's Financial Records
​A lower court ruling requiring two banks to turn over the president's financial information to House committees is now on hold until Dec. 13.
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The Supreme Court has temporarily blocked a lower court's ruling ordering two banks to release President Donald Trump's financial records to House committees.

The president requested that a hold be placed on a lower court ruling requiring Deutsche Bank and Capital One to turn over his financial information to the House Intelligence and Financial Services committees. President Trump's lawyers argued in an emergency filing the committees' requests "lack a legitimate legislative purpose." Specifically, they said the subpoenas "target financial institutions that the President, his businesses, and his family used long before his election to office. They seek documents reaching back more than a decade, cover individuals who have never held government office (including minor children), and seek virtually every financial detail that the institutions might have about [the president's] private affairs."

In a brief order Friday, Supreme Court Justice Ruth Bader Ginsburg said the previous ruling is now on hold until Dec. 13.

Capital One has previously said it doesn't have the tax returns that the committees are seeking. Deutsche Bank has said it doesn't have any copies of President Trump's tax returns but that it does have some returns sought by the committees. It's unclear exactly who the returns belong to.

The president has also formally petitioned the Supreme Court to take up another case regarding the release of his tax returns.