Schiff said he wants to obtain Trump's Deutsche Bank records

Democratic Rep. Adam Schiff, the likely incoming chairman of the House Intelligence Committee, told NBC's Chuck Todd on "Meet the Press" Sunday that he wants to obtain President Donald Trump's records with Deutsche Bank because they could expose "a form of compromise" with Russia.

Schiff told The New Yorker in a profile published last week that he plans to subpoena information on Trump's transactions with the bank because of the German financial institution's longtime relationship with Trump and its past ties to Russian money laundering. Schiff, who Trump has referred to as "little Adam Schitt," said the answer to whether the president was involved with Russian money laundering could exist in the Deutsche Bank records.

"Well, the concern about Deutsche Bank is that they have a history of laundering Russian money," Schiff told Todd on Sunday. "And this, apparently, was the one bank that was willing to do business with the Trump Organization."

"If this is a form of compromise, it needs to be exposed," he added.

See more related to this story:

18 PHOTOS
Criticism of report on Trump's tax returns
See Gallery
Criticism of report on Trump's tax returns
Rachel Maddow has nothing. Fake News In fact this helps Trump. The assumption was that he paid no income tax Now we know he paid $38M
Congrats @Maddow now, Rachel Maddow has out-Geraldo'ed Geraldo Rivera. #FakeNews so dumb, Mexico just got 10 feet l… https://t.co/76cgakMw1L
Rachel Maddow just said move over @CNN let me show you what Fake News really looks like, as Geraldo yells out I thought I had that covered
Rachel Maddow (@maddow) is going to get roasted for possibly eternity for this embarrassing fake hit piece on Trump #TrumpsTaxReturns
Rachel Maddow helped uncover the fact that Trump in 05 paid roughly 10% more than Bernie Sanders did a few years ago. Thanks!
Tomorrow on Rachel Maddow: We have Trump's real birth certificate! "So, what does it say?" "Erm..American" Thank u for your #Resistance 👍🏻
Rachel Maddow is the joke of social media. @maddow
BREAKING: Tomorrow night Rachel Maddow will reveal Donald Trumps 2002 receipt from Arby's! Spoiler he likes the Beef N Cheddar! so do I 😋
So Rachel Maddow is risking jail time to "inform" Americans that Trump is really rich and probably needs a better CPA
Rachel Maddow revealing Donald Trump's 2005 tax returns was as exciting as Larry King saying "You're on the air."
Has Rachel Maddow revealed anything yet? I know the show is over, but I'm still waiting.
Rachel Maddow: Got Trump's tax returns Media: YES! Maddow: He obeys the law Media: NOOO! BOOO! Maddow is #FakeNews!! #TaxReturns #TrumpCare
Drudge: Trump paid higher tax rate [25%] than MSNBC Comcast [24%], Obama [19%], Bernie [13%]. Great reporting Rache… https://t.co/wJNZzdYuNK
Watch Rachel Maddow's brilliant take down of.. her own credibility. Only on MSNBC..
Patriots won at overtime. Hollywood ends with #Oscarfail Rachel Maddow shows the world how rich Trump is & he pays… https://t.co/yl6MOQxoKQ
Diamond and Silk react to Rachel Maddow and the "Bombshell" release of Trump's 2005 tax returns. #hannity https://t.co/FivjApqWwv
Many thanks to Rachel Maddow for proving that Trump paid even more taxes than 1%-hater Bernie!
So Trump made ~ $411,000.00 per day and paid 25% in taxes. Thanks "Rachel Maddow" for making a fool of yourself. #trumpstaxes
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

Trump has been associated with the German bank since the late 1990s, a time when the big Wall Street banks wouldn't lend to him following a series of business mishaps.

Earlier this year, The New York Times reported that news stories — which were inaccurate — about special counsel Robert Mueller having subpoenaed records from the bank led Trump to consider firing the Mueller in early December.

In September, journalist Bob Woodward reported in "Fear: Trump in the White House," that the president exploded at his former attorney John Dowd after reading those erroneous news reports.

Woodward wrote in the book that after learning of the news, a furious Trump phoned Dowd to voice his displeasure.

"This is bulls---!" Trump said.

The president said last year that Mueller looking into his business dealings would be crossing "a red line."

Trump's financial disclosures showed he held roughly $360 million in debt to the bank prior to his election as president, The Washington Post reported.

Last year, Deutsche Bank was fined roughly $630 million by New York and British law enforcement for its role in a Russian money-laundering scheme.

Read Full Story