banking, corruption, currency manipulation, Democrats Financial Services US House, Deutsche Bank, Deutsche Bank investigation, Deutsche Bank USA, federal ethics, Kushner, Mirror Trades, mirror-trading, Money-laundering, mortgage crisis, Moscow, Putin, Russia, Russian Laundromat, Russian mirror-trading scheme, Russian money-laundering scheme, Tax havens, Trump, US DOJ, Waters
From US Congresswoman Waters:
“Fed’s Action Against Deutsche Bank Proves Need for Increased Oversight Washington, May 31, 2017 Following the announcement that the Federal Reserve fined Deutsche Bank $41 million on account of the bank’s “unsafe and unsound” anti-money laundering practices, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement:
“Yesterday’s action by the Federal Reserve provides yet more evidence of Deutsche Bank’s well-known pattern of compliance failures and lax anti-money laundering controls. In light of this, I once again call on Deutsche Bank to provide details of the internal reviews it reportedly conducted of its 2011 Russian money-laundering scheme and its due diligence of President Trump and his immediate family. I also reiterate my call for Chairman Hensarling to exercise his leadership by using the Committee’s full range of investigative powers to determine the nature and scope of Deutsche Bank’s failure to comply with U.S. law.”
Last week, Ranking Member Waters and Committee Democrats wrote to Deutsche Bank’s Chief Executive Officer, John Cryan, requesting information on two internal reviews  the bank reportedly conducted, the first on its 2011 Russian mirror trading scandal, and the second on whether the accounts of President Donald Trump and his family members held at the bank had any ties to Russia.
The Democratic Members requested the information be delivered by June 2, 2017.
In addition, Ranking Member Waters and Committee Democrats wrote to Chairman Hensarling calling for the Committee to examine Deutsche Bank’s Russian money-laundering operation, and assess the integrity of the U.S. Department of Justice’s ongoing investigation into the scheme, given the Trump Administration’s conflicts of interest in the matter and the revelations of Attorney General Sessions’ communications with the Russian Ambassador. Chairman Hensarling has not responded to this letter to date.
Current (2016) Trump loans from Deutsche Bank:
“Those issues are separate from the conflicts of interest with the President’s family, many of whom are now federal employees. For example, the President’s son-in-law, Jared Kushner, holds a multi-million dollar line of credit at Deutsche Bank and $370 million in financing on the Kushner Companies’ Time Square retail condo property. / Mr. Kushner now serves as Senior Advisor to President Trump, with a portfolio that ranges from tax and banking policy to military and international affairs.” Read more here: