WASHINGTON (AP) — The Democratic chairs of two congressional committees that subpoenaed President Donald Trump's financial records say his lawsuit to try to block their efforts is "meritless."

House Intelligence Committee chair Rep. Adam Schiff and House Financial Services Committee chair Rep. Maxine Waters issued a joint statement after the lawsuit was filed Monday in New York.

Trump, three of his children and the Trump Organization filed the suit against Deutsche Bank and Capital One in an attempt to block the subpoenas.

The financial institutions were subpoenaed this month as part of investigations into the Republican president's finances.

Schiff and Waters say Congress "will not be deterred from carrying out its constitutional responsibilities." They allege the lawsuit is designed to "put off meaningful accountability as long as possible."

Deutsche Bank says it's "committed to providing appropriate information to all authorized investigations." Capital One hasn't responded to a request for comment.

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