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A federal appeals court in New York handed President Donald Trump another legal defeat, ruling Tuesday that Congress can see his banking records for investigations into possible foreign influence in U.S. politics or other misdeeds.

A panel of 2nd U.S. Circuit Court of Appeals judges said two banks, Deutsche Bank and Capital One, should comply with subpoenas from the House Financial Services and Intelligence committees seeking records related to Trump’s business ventures.

The court said Congress was acting within its constitutional authority to investigate a series of significant issues, including whether Trump was “vulnerable to foreign exploitation.”

It rejected arguments that the subpoenas were meant merely to embarrass the president, though the court said Trump did deserve some privacy protections and outlined procedures for protecting some sensitive personal information in the documents from public disclosure. It also gave Trump a limited chance to object to disclosure of certain documents.

Judge Debra Ann Livingston said in a partial dissent that the lower court should take a longer look at the “serious questions” raised by the case and give the parties time to negotiate.

Article URL : https://abcnews.go.com/Politics/wireStory/2nd-circuit-upholds-legality-congressional-tax-subpoenas-67462496?cid=social_twitter_abcnp