Banks Get Warning About What Could Happen if Democrats Win Midterms
Summary
Democratic lawmakers and Republican Senator Thom Tillis asked major banks and port authorities to preserve records related to proposed or completed Russian diesel transactions. The letter warns that the imports could raise legal questions and face congressional scrutiny; Democrats may gain committee control if they win the November 3 midterm elections.Key Facts
- The letters went to JPMorgan, Bank of America, Citi, Wells Fargo, Goldman Sachs, Morgan Stanley, and port authorities in Texas and New York/New Jersey.
- The lawmakers requested contracts, invoices, shipping and vessel records, payment records, and communications with suppliers, intermediaries, and U.S. officials.
- Recipients were asked to confirm by October 28 that they had preserved the records.
- The letter was signed by Democratic Senators Jeanne Shaheen, Ron Wyden, Elizabeth Warren, Chris Coons, and Sheldon Whitehouse; Democratic Representative Gregory Meeks; and Republican Senator Thom Tillis.
- Donald Trump defended the Russian diesel agreement as a way to increase supplies and lower fuel prices.
- The White House said the Treasury authorization complies with applicable laws and criticized the prospect of Democratic investigations.
- Several of the Democratic signers could lead Senate or House committees if Democrats win control of Congress.
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